鲍威尔“调查门”搅动全球市场 美元信用承压驱动资本流向重构

Core Viewpoint - The criminal investigation into Federal Reserve Chairman Jerome Powell, linked to overspending on the Fed's headquarters renovation, has raised concerns about the independence of the Federal Reserve and the stability of the global financial system [1][2]. Group 1: Impact on Financial Markets - The investigation has led to increased market uncertainty, with a shift in capital towards safer assets, as evidenced by a drop in the dollar index and a surge in gold prices, which recently surpassed $4600 [1][8]. - The VIX fear index's fluctuations indicate that market expectations are becoming unstable, potentially leading to chaotic financial transactions [2][4]. Group 2: U.S. Monetary Policy and Dollar Credibility - The investigation reflects deeper issues regarding the independence of the Federal Reserve and the potential for presidential interference in monetary policy, which could undermine confidence in the dollar [2][3]. - If inflation in the U.S. spirals out of control, investors may reassess asset pricing based on Federal Reserve policies, further destabilizing the dollar's status as a global reserve currency [3][4]. Group 3: Capital Flows and China's Financial Market - The investigation has prompted a re-evaluation of capital flows, with international funds increasingly directed towards China, driven by the country's stable economic policies and growth potential [6][7]. - China's financial system is evolving, with a focus on creating a robust financial infrastructure that enhances its attractiveness to global investors [7]. Group 4: Asset Price Volatility - The current volatility in asset prices, particularly in the stock and gold markets, is closely tied to the dollar's international reserve status, with potential implications for future market stability [8][9]. - Ordinary investors are advised to maintain sustainable cash flow and wait for appropriate entry points in the market, rather than chasing high prices [9].