KEEP EYE ON YOUR 401K AS HIGH-STAKE GAME PLAYS OUT

In a disturbing sign for investors, Federal Reserve Board Chair Jerome Powell announced he is target of a bogus criminal probe by the White House.

The independent Fed is a pillar of our economy - and the White House yearns for control over its power to set official interest rates. The potential perils for investors - from Warren Buffett to Aunt Majorie - are huge.

Powell - a Republican - was appointed during the first Trump administration. The probe, led by the Justice Department, stems from a major construction project at the Fed in Washington and comes, coincidentally, as the White House itself undergoes a controversial construction job.

Said Powell on YouTube on Sunday: "This unprecedented action should be seen in the broader context of the administration's threats."

Countered the president: "I don’t know anything about it, but he’s certainly not very good at the Fed, and he’s not very good at building buildings.” 

Balderdash, said Senator Chris Murphy, of Trump's quip. "He’s a habitual liar and of course he knew and of course it’s to pressure him,” the Connecticut senator said. 

[Photo: YouTube]