The Federal Reserve is facing a growing institutional crisis as a legal standoff with the Department of Justice raises uncertainty over its leadership and independence.

The Federal Reserve on Wednesday held interest rates steady as widely expected, while its updated dot plot maintained projections for one rate cut this year. The central bank added that the effects of the ongoing Middle East conflict on the economy were "uncertain."

Bitcoin fell more than 5% on Monday, sliding below $65,000 after U.S. President Donald Trump announced plans to raise global tariffs to 15%, fueling renewed uncertainty in financial markets.

U.S. Treasury yields were mixed on Monday as investors digested news of a criminal investigation involving Federal Reserve Chair Jerome Powell and turned their attention to key inflation data scheduled for later in the week.

Federal prosecutors have launched a criminal investigation into Federal Reserve Chair Jerome Powell over his June testimony to Congress regarding the Fed’s $2.5 billion renovation of its headquarters in Washington, D.C.

Gold surged past $4,600 an ounce for the first time on Monday, while silver also climbed to a record high, as investors flocked to safe-haven assets amid escalating geopolitical tensions and news of a criminal probe involving U.S. Federal Reserve Chair Jerome Powell.

U.S. President Donald Trump has granted pardons to a long list of political allies involved in efforts to overturn the 2020 presidential election, according to the Department of Justice’s Pardon Attorney, Ed Martin.