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The Latest Breaking News from Jerome Powell

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.

Barchart

US opens criminal investigation into Fed Chair Jerome Powell

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.

Euronews

Criminal investigation into Fed chair Powell has ‘reinforced’ concerns over independence, Goldman Sachs warns, as dollar weakens – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

From analysis to the latest developments in health,
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Tillis to oppose all Fed nominees over Powell investigation

Sen. Thom Tillis said he'd oppose any nominees for the Federal Reserve due to the administration's criminal investigation of Fed Chair Jerome Powell.

Roll Call

US futures slip while Asian shares gain as Fed chair Powell faces Trump legal threat

US futures experienced a dip on Monday, contrasting with gains across Asian markets, after Federal Reserve Chair Jerome Powell revealed the Department of Justice had served the central bank with subpoenas.

The Independent UK

Stock futures slide while gold and silver jump after Powell investigation raises fears over the Fed's independence

Powell said the investigation rests on “pretexts,” arguing it's retaliation for the Fed’s refusal to follow the Trump's preferences on interest rates.

Fortune

DOJ probe on Powell draws swift backlash from Congress as key GOP senator says he won't confirm anyone for the Fed until case is resolved

"If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none."

Fortune

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Justice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal Reserve

Fed chair accuses DoJ of threatening criminal charges over building renovation projects because central bank defied Trump’s interest rate demands

The Guardian - US

Powell blasts DOJ criminal probe as attack on Fed independence. 'Public service sometimes requires standing firm in the face of threats'

He said in a statement Sunday that the Justice Department served the Fed with grand jury subpoenas, threatening a criminal indictment.

Fortune

Trump says he doesn’t ‘know anything about’ the DOJ’s investigation into the Federal Reserve

President Trump has long pressured Powell to cut the central bank’s interest rates

The Independent UK

Trump's DOJ launches criminal investigation of Fed chair Powell

Powell calls the investigation an assault on the Fed's independence from politics.

Axios

US hiring held firm in December capping weakest year of growth since pandemic

White House is meanwhile facing questions about an apparent embargo breach over Trump’s social media post

The Guardian - US

Hiring was likely modest in December to end a year of weak job growth

Hiring likely remained subdued last month as many companies have sought to avoid expanding their workforces, though the job gains may be enough to bring down the unemployment rate

The Independent UK

Why Your Bank Suddenly Lowered Your APY — And What to Do Next

Why banks lower APYs, options you can explore when it happens and whether more rate cuts are on the horizon.

Kiplinger

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Fortune

Ray Dalio warns AI is in the early stages of a bubble

After strong returns in U.S. markets last year, 2026 might be a different story.

The Mary Sue

‘What a spin’: Trump insults Jerome Powell, forgets he appointed the fed chair, and blames Biden for reappointing him

Donald Trump has never met a problem he didn’t immediately blame on Joe Biden. On Monday, he turned that reflex toward the Federal Reserve. Apparently, Jerome Powell not working to Trump’s standard is also Biden’s fault.

Fortune

Bank of America CEO says he hired 2,000 recent Gen Z grads from 200,000 applications, and many are scared about the future

Brian Moynihan says the fears are understandable, but urges young grads not to lose hope about the job market.

Fortune

Dollar set for worst year since 2017 with Fed drama center stage

“The biggest factor for the dollar in first quarter will be the Fed,” said Yusuke Miyairi, a foreign-exchange strategist at Nomura.

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The Guardian - US

Fed up: inside Trump’s unprecedented bid to exert control over the US central bank

The US president and his allies spent 2025 attacking the Federal Reserve amid a rollercoaster year for the US economy

Axios

Division at the Fed: Some officials want to keep interest rates on hold "for some time"

The Fed is split over whether to keep cutting rates, minutes from their policy meeting show.

The Guardian - UK

Five charts that explain the global economic outlook for 2026

Inflation is predicted to cool but uncertainty over AI-driven growth and trade policy poses risks in the year ahead

The Independent UK

Trump veers off topic at Netanyahu press conference to talk inauguration plans for $400M White House ballroom

President Donald Trump says entertainment space will be ‘bigger’ than previously described and suggests his successor will be sworn in within its walls in January 2029

The Guardian - US

Trump news at a glance: president greets Netanyahu, warns Hamas, threatens to sue Jerome Powell

Israeli prime minister’s Florida trip included announcement that he will award Trump with Israel prize

The Independent UK

Trump says he is considering a ‘gross incompetence lawsuit’ against Fed chairman over building renovation

President threatened to allow ‘a major lawsuit against Powell to proceed’ earlier this year

The Guardian - US

Trump says he’d ‘love to fire’ Jerome Powell in latest attack on Fed chair

Trump also repeated false claims about renovation costs for the Fed headquarters during a Monday press conference

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People

Marjorie Taylor Greene

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