‘Sell America’ Trade Is Revived by Trump’s Latest Fed Attack

“Sell America” sentiment rippled through markets on Monday after the Trump administration escalated its attacks on the Federal Reserve, fanning concerns over the central bank’s autonomy in setting interest rates.

The dollar, Treasuries and US equities futures slid after Chair Jerome Powell said the threat of a US criminal indictment was a consequence of a disagreement over monetary policy. While the declines were relatively small, the hot-button issue of the Fed’s independence and the implications for US markets resurfaced in investor debates.