US President Trump is believed to support Pirro's appeal on Powell subpoenas; Trump was open to idea of ending Fed probe until judge's ruling

The indication that former President Trump supports Pirro's appeal regarding Powell's subpoenas underscores potential political influence over the Federal Reserve, which might affect its operational independence. This could lead to heightened market volatility, particularly in fixed income and forex, as investors reassess the credibility of Fed decisions amid increased political scrutiny. Overall, it raises concerns about future policy decisions and their impact on the USD and broader market stability.