‘Freaked out’ about the bond market: White House reels from Powell probe
Politico reports: Treasury Secretary Scott Bessent spent months laying the groundwork for a smooth transition at the Federal Reserve that wouldn’t rattle markets. That plan is now in disarray. The Justice Department’s criminal investigation into whether Fed Chair Jerome Powell misled Congress about renovations at the Fed headquarters — and allegations over who leaked the news — has the White House in damage-control mode. Officials are scrambling to reassure markets and create distance from an episode that aides say was…