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Subscribe to enjoy similar stories. Wall Street thought it had an ally in Donald Trump. He’s becoming more of an adversary.

Subscribe to enjoy similar stories. Jamie Dimon on Tuesday defended the independence of the Federal Reserve, saying that “anything that chips away" at the central bank’s independence “is not a good idea." Dimon, speaking with reporters after JPMorgan Chase issued its fourth-quarter earnings results, said political interference with the Fed would cause interest rates to go up, contrary to President Trump’s stated goal of getting rates to go lower.

Subscribe to enjoy similar stories. In his second term, President Donald Trump has attacked Federal Reserve Chair Jerome Powell and his underlying institution with little impact on the markets. That may soon change as investors digest the administration’s criminal investigation into Powell for allegedly lying to Congress.

Subscribe to enjoy similar stories. When Jerome Powell went public with his defense of the Federal Reserve’s independence, the central bank’s chair found an unlikely army standing behind him: the meme-stock crowd. “He is an American hero," one user, using the handle 4Yk9gop, posted on Reddit.

Subscribe to enjoy similar stories. With food prices falling less, headline inflation has shown a modest uptick in December. Government data released on Monday put India’s consumer price index-based year-on-year rate of inflation at 1.33%, up from just 0.71% in November.

Subscribe to enjoy similar stories. The Justice Department’s investigation of Federal Reserve Chair Jerome Powell represents an escalation of an unprecedented White House campaign to shape what happens at the central bank. The investigation is centered on testimony Powell gave to Congress last summer, when he defended the Fed’s expensive efforts to renovate its headquarters in Washington.

Subscribe to enjoy similar stories. President Trump has complained to aides repeatedly in recent weeks about Attorney General Pam Bondi, describing her as weak and an ineffective enforcer of his agenda, administration officials and other people familiar with his complaints said. The criticisms appear to be part of an intense campaign by Trump to pressure the Justice Department to more aggressively pursue his priorities, some of the officials said.

Subscribe to enjoy similar stories. For years, Federal Reserve Chair Jerome Powell has responded to President Trump’s broadsides in ways that generally avoided escalation. That changed on Sunday night.

Subscribe to enjoy similar stories. Gold prices climbed to a record high, breaking above $4,600 a troy ounce as a criminal probe into Federal Reserve Chair Jerome Powell revived concerns over the central bank’s independence, while protests in Iran boosted demand for safe-haven assets. In midmorning European trading Monday, futures in New York rose 2.2% to $4,600.50 an ounce after touching an intraday high of $4,612.70.

Subscribe to enjoy similar stories. The dollar fell the most in three weeks in overnight trading, while Treasury bond yields retreated and gold soared to a fresh record high as global markets reacted to a U.S.

Subscribe to enjoy similar stories. The criminal investigation into Federal Reserve Chair Jerome Powell isn’t ultimately about the Fed’s headquarters, or Powell, or even interest rates. It’s about power.

Subscribe to enjoy similar stories. The Federal Reserve received grand jury subpoenas from the Justice Department on Friday that threaten a criminal indictment relating to Chair Jerome Powell’s testimony last summer about the central bank’s building renovation project, the Fed chair said in a video statement on Sunday night.

Subscribe to enjoy similar stories. Treasury Secretary Scott Bessent is on the precipice of what may be the defining event of his government career. President Donald Trump has said he will choose the next chair of the Federal Reserve by early January.

William Shakespeare excelled at stagecraft. The themes in his plays were simple, but their effect dramatic. The bard’s words still resonate in many contexts—such as the economic themes of 2025.

Subscribe to enjoy similar stories. A list of reasons to be bullish laid out succinctly in a weekly Bank of America report suggests stocks are likely to extend their record run well into the coming year. The president’s economic plans have a lot to do with it.

Subscribe to enjoy similar stories. Jerome Powell pushed through a rate cut Wednesday over the broadest reservations of his nearly eight-year tenure, and in doing so, implicitly delivered a pointed message to President Trump and his own successor: Cutting rates is harder than it looks. The decision drew three dissents—two from officials who opposed any cut and one from a Trump ally who wanted a larger reduction.

Subscribe to enjoy similar stories. The Federal Reserve lowered interest rates for the third time in four months on Wednesday while signaling that further easing is far from assured.

Subscribe to enjoy similar stories. Fed Chair Jerome Powell pointed on Wednesday to a job-market risk that economists have been worried about for months: Official statistics could be drastically overstating recent hiring. Powell said that Fed staffers believe that federal data could be overestimating job creation by up to 60,000 jobs a month.

Uneasy lies the head that wears the crown,” wrote Shakespeare in his play Henry IV. The English playwright was talking about a king by that name, not of any central bank governor.

Subscribe to enjoy similar stories. President Donald Trump has already succeeded in two of his key economic goals, bringing down long-term interest rates and oil prices. That has been accomplished via a crash in asset values brought about by perhaps the largest tax increase in modern U.S.

US stock market has started witnessing a chaos. President Donald Trump's big raise in tariffs has triggered an escalating trade war and sent global markets plummeting. The S&P 500 fell 6 per cent on Friday, the Dow Jones Industrial Average plunged 5.5 per cent and the Nasdaq composite dropped 5.8 per cent. Wall Street went into free fall, following similar collapses in Asia and Europe. For a second straight day, markets plunged, wiping vast sums off investment and retirement portfolios alike. US Federal Reserve Chairman Jerome Powell warned the tariffs were likely to spur «higher inflation and lower growth», as per an AFP report. Losses in US financial markets were estimated at more than $6 trillion since Trump unveiled his «Liberation Day» tariffs. Trump, who unveiled his barrage of import duties against dozens of countries Wednesday, was unrepentant, posting that «my policies will never change,» AFP reported. «This is a great time to get rich,» he wrote.