The Latest Breaking News from Jerome Powell

Jerome Powell has said that the US Federal Reserve is being threatened with criminal indictment by the Trump administration.

Republican senator vows to block all Fed nominations ‘until legal matter is fully resolved’

Gold prices surged to a new record high of 4,600 US dollars per ounce, driven by investor concerns over threats to the independence of the US central bank. The precious metal's value has increased by approximately 70% over the past year, reflecting a broader trend of investors seeking safe haven…

March S&P 500 E-Mini futures (ESH26) are down -0.64%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.82% this morning as sentiment took a hit amid escalating tensions between the Trump administration and the Federal Reserve.

The metal climbed by around 2% on Monday morning to a high of 4,600 US dollars (£3,415) per ounce, beating a previous record set in late December.

Wall Street analysts are almost universally negative about the news.

Federal Reserve Chair Jerome Powell accuses Trump of weaponising the DOJ to pressure the Fed, sparking lawmakers' support and market jitters.

While I wanted to talk about something else, anything else, to start the week, the latest market news was not expected, nor was it surprising.

Powell said the investigation, linked to a testimony he gave to a Senate committee about renovations to Fed buildings, was an attempt to limit central bank independence.