What is the Jerome Powell subpoena and why does it matter?

It refers to DOJ grand jury subpoenas connected to Chair Powell’s June testimony. The issue matters because it could chill perceived Fed independence, lift risk premia, and ripple into U.S. yields and equity valuations. Markets react to process risk even if policies do not change immediately.

Is President Trump involved in the DOJ action?

President Trump publicly denied involvement in the DOJ subpoenas. Markets will still assess whether political pressure could affect policy signals. For now, evidence of direct interference is not established. Investors should track official updates and watch how U.S. yields and the dollar respond to headlines.

How is the S&P 500 today reacting to the news?

The index trades near 6,977, up about 0.16%, with a day and year high of 6,986.33. It is close to the Bollinger upper band at 6,980.35, while RSI is 57.52, showing constructive momentum. Volume is slightly below average, suggesting selective participation rather than broad, high-conviction buying.

What should Singapore investors watch next?

Focus on U.S. Treasury yields, USD/SGD moves, and any official statements linked to the Jerome Powell subpoena. Monitor support at 6,866 and 6,752 and resistance near 6,986. Also watch sector sensitivity in local REITs and banks to shifts in global rates and risk appetite.

Law and Government

^GSPC Today: January 13 Trump Denial, Powell Probe Raise Policy Risk

ByDanny Kontos January 13, 2026January 13, 2026

The Jerome Powell subpoena tied to June testimony is back in focus and investors in Singapore are watching policy risk closely. President Trump denied involvement, while officials warned the probe could chill Fed independence. The S&P 500 index ^GSPC trades near 6,977, up about 0.16%, with a year high at 6,986.33. We outline why the Jerome Powell subpoena matters for rates, risk appetite, and key U.S. equity levels that can affect SGD assets through yields, currency, and global flows.