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The Latest Breaking News from Jerome Powell

Gold shines as share safe haven after Trump Fed threat

Local shares have recovered to finish slightly lower as a US sell-off sends the Aussie dollar to its highest level against the greenback in four months.

AAP

US stocks and dollar tumble as Trump renews attacks on Fed Chair Powell

S&P 500 falls 2.36 percent, while Nasdaq Composite drops 2.55 percent amid fears for central bank’s independence.

Al Jazeera

US dollar hits three-year low as stocks tumble after Trump rips fed chair Jerome Powell

Global markets responded again to Trump’s latest beef, which this time is with America’s central bank

The Independent UK

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Stock Market Today: Dow Drops 971 Points as Powell Pressure Ramps Up

President Trump is increasing his attacks against Jerome Powell, insisting the Fed chair cut interest rates.

Kiplinger

Trump’s Powell threats sink stocks in rocky start to trading week

A major concern: The future independence of the Federal Reserve.

Fortune

Ray Dalio fears ‘something worse than a recession.’ If anything his fears are understated

The world faces a host of economic and political perils—and the key to resolving them is missing.

Fortune

Even fellow critics of the Federal Reserve want Trump to back off Powell as stocks and the dollar both slide

When politics interferes with the central bank’s ability to set monetary policy, inflation tends to be the result.

Fortune

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Reeves to make case for free global trade at Washington IMF talks

Officials say UK faces a ‘new economic reality’, but chancellor will not strike US deal at any cost

The Guardian - UK

Bitcoin rebounds as the U.S. dollar weakens and Trump feuds with Fed Chair Jerome Powell

Bitcoin touches $87,000 as Trump’s feud with the Federal Reserve triggers economic uncertainty.

Fortune

US stock markets fall again as Trump calls Fed chair ‘a major loser’

President amps up attacks against Jerome Powell, pushing him to lower interest rates to offset impact of tariffs

The Guardian - US

‘Peak uncertainty’ may have passed since Trump pressed pause on tariffs, but Fundstrat’s Tom Lee fears we may not have reached ‘maximum pain’

“We’re now in a de-escalation mode when it comes to the tariffs,” UBS’s Evan Brown added.

Fortune

Pope Francis Has Died

Plus: Ross Douthat on technological change, Trump on a possible Jerome Powell firing, and more...

Reason

Chicago Fed Chief Warns Against Political Interference in Central Bank Decisions

Chicago Fed Chief Austan Goolsbee defends the independence of the Federal Reserve amid President Trump's push to remove Fed Chair Jerome Powell.

International Business Times

Can Trump fire Federal Reserve chair Jerome Powell?

The US president and the man he appointed to head the central bank are at loggerheads over interest rates

The Guardian - US

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Barchart

Stocks Set to Open Sharply Lower After Trump’s Push Against Powell, U.S. Economic Data and Tech Earnings in Focus

June S&P 500 E-Mini futures (ESM25) are down -1.09%, and June Nasdaq 100 E-Mini futures (NQM25) are down -1.23% this morning, pointing to a sharply lower open on Wall Street as U.S. President Donald Trump’s threats to fire Federal Reserve chief Jerome Powell weighed on sentiment.

International Business Times

Gold Hits Record, Dollar Drops As Tariff Fears Dampen Sentiment

Gold prices hit a fresh record Monday while the dollar weakened further and stocks were mixed amid worries about Donald Trump's tariff blitz and bubbling row with the Federal Reserve.

Fortune

Following Trump’s attacks on Powell, Chicago Fed president Goolsbee warns against undermining the credibility of the Fed

President Donald Trump said this week Jerome Powell’s “termination cannot come fast enough.”

Fortune

Trump’s handling of tariffs and inflation nosedives his economic approval rating to the rock bottom of his entire presidential career

A survey of 1,000 Americans showed Trump with 43% approval and 55% disapproval.

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Fortune

Trump's knives are out for Jerome Powell, setting up a Supreme Court showdown over the Fed’s independence

The Fed is special. Why the Supreme Court may let Trump fire other agency heads—but not Jerome Powell.

The Guardian - UK

Could Trump’s tariffs give a green light for corporate profiteering?

Expectations of inflation, and recent waves of price rises, could be self-fulfilling and fuel ‘greedflation’ – and it may not only apply to US consumers

Kiplinger

What Happens To Mortgage and Savings Rates If Trump Fires Federal Reserve Governors?

The President has backed off on firing Powell. Instead, he recently announced he fired Fed Gov Lisa Cook.

International Business Times

Trump Goes To War With The Fed

Donald Trump's simmering discontent with the US Federal Reserve boiled over this week, with the president threatening to take the unprecedented step of ousting the head of the fiercely independent central bank.

Latin Times

Trump Looking Into Whether He Can Fire Fed Chair Jerome Powell Despite Central Bank Independence

President Donald Trump is studying whether he can fire Fed Chair Jerome Powell, said National Economic Council Director Kevin Hassett

The Conversation

Trump’s attacks on central bank threaten its independence − and that isn’t good news for sound economic stewardship (or battling inflation)

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…

Latin Times

Tokyo Leads Gains In Most Asian Markets On Trade Deal Hopes

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".

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