To cope with rapidly changing policies, American asset management giants have begun to sell off US dollar assets to diversify their risks.

Chairman Powell of the Federal Reserve is under criminal investigation, prompting the American asset management giant Pinhao Investment Management to sell off US dollar assets in order to diversify risks. The Chief Investment Officer of Pinhao Investment Management, Dan Ivashchin, stated that the company is "diversifying its portfolio" in response to the rapidly changing policies of US President Trump. These policies have led to increased market volatility. "It is important to recognize that this is an unpredictable government... Our assessment is that we are entering a process of reducing US assets to diversify risks over the next few years," Ivashchin said. Pinhao Investment Management oversees $2.2 trillion in assets and specializes in fixed income investments. It is reported that federal prosecutors in the United States have launched a criminal investigation against Powell. This investigation is related to his testimony in Congress in the summer of 2025 regarding the renovation project of the Federal Reserve office building. In a video statement released that day, Powell said that the federal government's excuse for the "criminal investigation" is aimed at exerting greater influence on the Federal Reserve and its monetary policy. Powell's term is set to end in May of this year, and Trump may nominate his successor in the coming days or weeks. Some Wall Street executives believe that issuing a subpoena to Powell is less about targeting him personally and more of a warning to his successor, as Trump may want certain "assurances" from the next Federal Reserve chairman. A Wall Street CEO, who preferred not to be named, said, "Trump is waging a new war, not his last war."