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The Latest Breaking News from Jerome Powell

Stocks Set to Open Higher as Bond Yields Fall, Fed Meeting and Middle East Conflict in Focus

March S&P 500 E-Mini futures (ESH26) are up +0.59%, and March Nasdaq 100 E-Mini futures (NQH26) are up +0.66% this morning, pointing to a higher open on Wall Street as Treasury yields retreated, while investors continued to monitor developments in the Middle East and awaited the Federal Reserve’s meeting.

Barchart

Despite denials, there are signs the RBA does consider house prices in setting rates

As households are squeezed by the cost-of-living crisis, central bank governors such as Jerome Powell in the United States and Michele Bullock in Australia are coming under repeated fire from politicians, pundits and households.

The Conversation

Judge Concludes Grand Jury Subpoena to Fed Had Improper Purpose

"There is abundant evidence that the subpoenas' dominant (if not sole) purpose is to harass and pressure Powell either to yield to the President or to resign and make way for a Fed Chair who will. On the other side of the scale, the Government has offered no evidence whatsoever…

Reason

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Trump news at a glance: Hegseth attacks media over war coverage as Trump calls Iran leaders ‘scumbags’

Defense secretary offers alternative TV headlines to reporters to more favourably reflect US military campaign in Iran

The Guardian - US

Judge blocks justice department from subpoenaing Fed chair Jerome Powell

Trump DoJ’s investigation was purportedly about the management of the central bank’s renovation

The Guardian - US

Subpoenas against Fed chair Powell tossed in scathing opinion

The judge accused the Trump administration of using the criminal investigation to pressure the head of the world's most important central bank to lower interest rates.

Axios

Federal judge quashes DOJ investigation into Jerome Powell saying it was just for Trump’s retribution

The judge wrote that the sole purpose of the probe ’is to harass Powell to pressure him to lower rates’

The Independent UK

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Judge blocks grand jury subpoena in Jerome Powell investigation

The Trump administration vowed Friday to appeal a ruling from a federal judge that an investigation into Federal Reserve Chair Jerome Powell was likely politically motivated and blocked a grand jury subpoena. Jeanine Pirro, the U.S. attorney for the District of Columbia, made the announcement at a news conference as…

Roll Call

Trump once again pushes Powell to drop rates 'IMMEDIATELY,' but a zero-cut year looks increasingly likely

"We have revised our baseline to show only one rate cut in 2026 ... but it is entirely plausible that the Fed won’t deliver any rate cuts this year."

Fortune

Man charged with threatening Trump and Democratic representative Swalwell

Diego Villavicencio also made violent threats against an unnamed individual, who appears to be Jerome Powell

The Guardian - US

‘A subversion of the justice system’: DoJ shifts into Trump’s ‘political wing’ as criminal investigations accelerate

President has ‘succeeded in completely politicizing’ justice department, experts say, using it to punish his enemies

The Guardian - US

A shiny new Fed chair will be keen to make an entrance with a base rate cut—yet the committee is only growing more hawkish due to Iran

“Clearly there’s growing skepticism that a new chair can start cutting straight away, particularly with the data as strong as it is right now,” noted Deutsche Bank’s Jim Reid.

Fortune

Commodity Roundup- February’s Top Performers and Underperformers

Precious metals and most energy prices moved higher in February. Three of the five soft commodities, natural gas, and cryptocurrencies posted double-digit percentage declines.

Barchart

Trump announces 401(k)s for all: ‘We will match your contribution with up to $1,000 each year’

Trump also pressured lawmakers to formally prohibit insider trading among legislators, shortly after mentioning Nancy Pelosi’s name.

Fortune

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The Conversation

The Supreme Court’s ruling leaves Trumponomics facing major challenges

The decision by the US Supreme Court to rule most of Donald Trump’s “liberation day” tariffs illegal will have far-ranging consequences for the president’s economic agenda. Although the administration will find other ways to increase tariffs, their usefulness as a weapon of economic warfare will be diminished. And the issue…

The Independent UK

Fed's Waller says rate cut in March is a 'coin flip' following a strong US jobs report

Federal Reserve governor Christopher Waller said Monday that solid job gains in January could mean the central bank can skip a rate cut at its next meeting in March, a move that would likely spur further attacks by President Donald Trump

Fortune

The Supreme Court's landmark tariff decision is the latest defeat 'piercing President Trump's seeming invincibility'

"This is significant at a time that the president seeks to head into midterm elections with a head full of steam."

Fortune

Jerome Powell knows the Fed's balance sheet got too big—Kevin Warsh has a plan, he just has to sell it without freaking out markets or the Treasury

"I've got a lot of sympathy for Warsh's view. But the transition from here to where he wants to get, could be problematic."

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Fortune

A headache is already brewing for Kevin Warsh at the Fed, as minutes show some members don’t just resist a cut, but are open to a hike

“While Warsh may enter with a perceived dovish bias, he will first need to demonstrate that his views are anchored in economic fundamentals rather than politics.”

Kiplinger

Nasdaq Leads a Rocky Risk-On Rally: Stock Market Today

Another worrying bout of late-session weakness couldn't take down the main equity indexes on Wednesday.

Fortune

Top Trump advisor furious about true cost of tariffs being revealed, vows to punish New York Fed for ‘worst paper’ ever in history

“The paper is an embarrassment,” Kevin Hassett fumed on CNBC, calling it “the worst paper I’ve seen in the history of the Federal Reserve System.”

Axios

Fed minutes show widening divide over rate cuts

Officials are split over how weak the labor market is and whether businesses will continue to pass along tariff-related costs to consumers.

GOBankingRates

Interest Rates Were Cut — What Will Mortgage Rates Look Like in 2026?

Here's what financial experts think mortgage rates will look like in 2026 now that the Fed has cut rates three times in 2025. Not much changes for good or ill.

Fortune

Jerome Powell is facing a ‘puzzlement’ of economic data, with contradictions likely to freeze any immediate action on the base rate

“Such confusion often leads to inertia, and we suspect that there will be no knee-jerk policy reaction to any of the week’s reports,” Oxford Economics’ Bob Schwartz wrote.

The Guardian - US

US inflation falls to 2.4% in January after Trump’s tariffs led to price fluctuations

Economists predicted a slight easing of inflation, although it’s unclear whether Fed will again cut interest rates

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