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The Latest Breaking News from Jerome Powell

Jerome Powell says DOJ served him with subpoenas, claims it’s really about one thing Trump wants

Trump just did something no president has ever done to the Fed.

We Got This Covered

Trump's War on Interest Rates

No one likes high interest rates on credit cards and loans, but artificially lowering interest rates via executive power is not a solution.

Reason

Stocks Climb Wall of Worry to Hit New Highs: Stock Market Today

The Trump administration's threats to Fed independence and bank profitability did little to stop the bulls on Monday.

Kiplinger

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This Gold Stock Is Winning on the Back of a So-Called ‘Sell America’ Trade

Alamos Gold (AGI) is trading at a new all-time high on Monday, and shares are up more than 118% over the past 52 weeks. AGI is benefiting from gold (GCG26) hitting new record highs on Monday. Some experts are calling the recent price action part of a “Sell America” trade...

Barchart

Mike Johnson Defends Trump DOJ's Probe Into Jerome Powell As Republicans Break Rank to Condemn Charges

House Speaker Mike Johnson defended the Trump administration's controversial decision to investigate Federal Reserve chair Jerome Powell.

International Business Times

Why is Trump’s justice department investigating Fed chair Jerome Powell?

Powell publicly denounced the inquiry as punishment for not bowing to the president’s wishes on interest rates

The Guardian - US

Republican Senator Calls Out Trump For Attempted Coercion, Siding With Jerome Powell

Republican Senator Lisa Murkowski criticized the Trump administration on social media for its investigation into Federal Reserve chair Jerome Powell.

International Business Times

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Scoop: Bessent told Trump that investigation of Fed chair creates a "mess"

"The secretary isn't happy, and he let the president know," one source familiar with Bessent's call to Trump told Axios.

Axios

Republicans slam Powell probe as ‘coercion’ as Trump tries strong-arming central bank

GOP pushback could imperil Trump’s efforts to remake the central bank’s board in his own image

The Independent UK

US bond markets should be in revolt. Fed independence matters

It is a perilous time to mess with the principle that rate-setters under an independent system should be free of political pressure

The Guardian - UK

Trump’s attempt to control Fed ‘undermines America’, Elizabeth Warren warns

Senator condemned president’s bid to weaken central bank’s independence and examined Democrats’ future

The Guardian - US

How Worried Should Investors Be About a Jerome Powell Investigation?

The Justice Department served subpoenas on the Fed about a project to remodel the central bank's historic buildings.

Kiplinger

Miners drive FTSE 100 up despite Fed probe worry

The FTSE 100 index closed up 16.10 points, 0.2%, at 10,140.70.

Evening Standard

Bill Pulte: How Trump's housing regulator became an attack dog

Pulte has been putting the pressure on Jerome Powell for months.

Axios

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Fortune

The FOMC has the power to pick its own chair and could keep Powell—unless the DOJ probe and Supreme Court let Trump oust him from the Fed

Powell actually wears two hats: He is chair of the Fed’s Board of Governors and chair of the Federal Open Market Committee.

Fortune

Goldman Sachs top economist says Powell probe won’t change the Fed: 'Decisions are going to be made based on employment and inflation'

President Donald Trump has frequently lambasted the Fed chair for not cutting rates more aggressively.

Axios

What's at stake in Trump's war on Powell

So far, the markets' reaction to the Powell news is adverse, but not a run-for-the-hills alarm.

Roll Call

GOP lawmakers ding Powell probe as coercion, distraction

Some Republican lawmakers on Monday criticized the Justice Department’s investigation of Federal Reserve Chairman Jerome Powell.

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The Guardian - UK

Trump’s attempts to influence Fed risk 1970s-style inflation and global backlash’

Analysts warn that White House pressure on US central bank to cut interest rates could put economy in danger

The Guardian - US

Ex-Fed chairs condemn Trump’s bid to weaken central bank’s independence

Statement signed by 13 former senior officials condemns ‘unprecedented’ assault on Fed’s independence

The Independent UK

Fed Chair Jerome Powell vows to ‘stand firm in face of threats’ after Trump’s DOJ launches probe

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

The Guardian - US

Some Republicans speak out against DoJ investigation into Fed chair

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

Barchart

Gold Rallies, VIX Spikes as Fed Chair Powell Responds to Criminal Indictment

Over the weekend, Powell said the DoJ charges are a pretext to apply pressure over Fed rate cuts.

International Business Times UK

Jerome Powell Warns 'Pretext' Investigation Is a Power Play That Could Undermine Fed Independence

Federal Reserve chair Jerome Powell says a 'pretext' investigation risks politicising interest rate decisions and weakening Fed independence.

Euronews

Gold and silver soar after US targets Federal Reserve in Powell probe

European indexes were mixed on Monday after a rally in Asia, while US futures dipped on reports of a Justice Department probe into Fed chair Jerome Powell. The news sent gold and silver to fresh records.

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