The Latest Breaking News from Jerome Powell

Nearly every country in the world has a central bank – a public institution that manages a country’s currency and its monetary policy. And these banks have an extraordinary amount of power. By controlling the flow of money and credit in a country, they can affect economic growth, inflation, employment…

Investors are also eyeing developments at the Federal Reserve as Trump hit out at boss Jerome Powell, who warned the sweeping tariffs were "highly likely to generate at least a temporary rise in inflation".

Jerome Powell's economic warning on Trump's inflationary tariff scheme reignited the pair's feud

Investors, traders and speculators look beyond both another Trump post and more signs of slowing economic activity.

An earnings miss by UnitedHealth Group dragged down the Dow.

“The White House’s actions have made it harder for the Fed to cut rates,” said a Columbia Business School professor.

Markets would likely be very spooked if the president could choose to influence monetary policy.

Trump does not have the authority to force Powell to resign. The Fed chair’s term is up in May 2026.

After the Federal Reserve chair warned that Trump's tariffs could stoke inflation, Trump responded with a furious social media tirade demanding his removal.