White House says US President Trump supports Fed independence

• Says that US President Trump did not direct DOJ officials to investigate Fed chair Powell.

The White House's affirmation of President Trump's support for Fed independence suggests a stabilizing signal for markets. It reinforces the autonomy of the Federal Reserve, which could lessen uncertainty around monetary policy and help maintain investor confidence in the dollar and overall market conditions. This context could mitigate fears of political interference, leading to a more predictable rate path ahead.