A phone call on Sunday evening has drawn attention in the financial circle. U.S. Treasury Secretary Yellen explicitly told President Trump that the investigation into Federal Reserve Chair Powell has gotten out of control and could impact financial market stability.

Sources familiar with the matter revealed that Yellen was frank during the call: "The Secretary is very unhappy, and he has already made the President aware of this." His core concern is that the investigation initiated by the Washington Prosecutor's Office was not communicated in advance to the Treasury Department, the White House, or the Department of Justice, and procedural chaos has become an issue.

More critically, Yellen believes the situation has become more complex than outsiders can imagine. He pointed out: When the President appoints a new Federal Reserve Chair, the current Chair Powell should step down smoothly. But now, everything has changed, and Powell's stance has become even more hardline. As a result, the originally smooth transition has been thrown into disarray by this investigation.

Interestingly, Yellen did not question the investigation into Powell itself nor did he defend it—he merely stated a reality: when such internal disagreements and procedural chaos occur among policymakers, market uncertainty inevitably follows. For investors closely watching monetary policy developments, this uncertainty often means risk.