Fed has not yet complied with subpoenas as Powell probe continues, CNBC reports; It is not clear when the deadline is for the Fed to turn over documents demanded by the subpoena

Fed has not yet complied with subpoenas as Powell probe continues, CNBC reports; It is not clear when the deadline is for the Fed to turn over documents demanded by the subpoena.

The ongoing subpoenas related to the Federal Reserve's operations could heighten scrutiny on the central bank's transparency and governance. If there is no clear compliance timeline, it may fuel uncertainty around Fed actions and lead to increased volatility in USD and fixed income markets as traders reassess the implications for monetary policy and market trust. Watch for potential movements in risk assets and shifts in yield curves as this situation develops.