Safe-Haven Rush After Fed Gets Served Subpoena

Group 1 - Credit card and issuer stocks have declined as major banking groups oppose a proposed one-year cap on interest rates [2] - Walmart is expanding its drone delivery service in partnership with Alphabet's Wing to 150 additional U.S. stores [2] - The U.S. Treasury has indicated it can easily cover any tariff refunds [7] Group 2 - Federal Reserve Chairman Jerome Powell is under investigation by the Department of Justice regarding the renovation of the Fed headquarters, which is reportedly $700 million over budget [4][5] - The renovation project aims to modernize the Marriner S. Eccles Building and another building, which have not been comprehensively renovated since their construction nearly 100 years ago [5] - Powell asserts that the investigation is politically motivated and emphasizes the importance of the Fed's independence in setting interest rates based on economic conditions [4][5]