2 h. ago ‘Agent of chaos’ Bill Pulte and Jeanine Pirro behind DOJ investigation of Fed Chair Jerome Powell, report claims

Chairman has dismissed probe as a political attack brought about because he refuses to lower interest rates in line with ‘the preferences of the president’

Events

3 h. ago Bank of England governor in extraordinary clash with Donald Trump over future of America's top banker

Andrew Bailey signs statement with other central bankers backing US Federal Reserve chairman Jerome Powell

Politics

3 h. ago Top central bankers express 'full solidarity' with Fed Chair Powell in clash with Trump

Eleven central bankers from around the world have expressed full support for U.S. Federal Reserve Chair Jerome Powell

Politics

4 h. ago Global central banks offer ‘full solidarity’ to US Fed’s Powell amid Trump threats

Nine governors including Bank of England’s Andrew Bailey and ECB’s Christine Lagarde say independence is criticalBusiness live – latest updatesGlobal central banks have issued an extraordinary joint statement offering “full solidarity” to the US Federal Reserve chair, Jerome Powell, in the face of the latest threat to his independence from Donald Trump’s White House.“The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve. It is therefore critical to preserve that independence, with full respect for the rule of law and democratic accountability,” the statement said. Continue reading...

Politics

4 h. ago Global central banks show ‘full solidarity’ to US Fed chairman after threats

Bank of England governor Andrew Bailey was among the 11 central bank leaders to sign the statement of support.

Politics

4 h. ago The Jerome Powell investigation shows Trump’s need for limitless power | Austin Sarat

The inquiry into the Federal Reserve chair sends a message to anyone standing in Trump’s way – including the supreme courtNews that Donald Trump’s justice department has launched an investigation of Jerome Powell, chair of the Federal Reserve, is the latest example of the president’s governing philosophy: do what I want, or I will crush you. The desire to make Powell’s life miserable is also a warning sign to anyone who thinks that they have an independent source of authority.What is happening to Powell is a test, not just for him and the Fed, but for any other person or institution that dares to stand up to the president.Austin Sarat, William Nelson Cromwell professor of jurisprudence and political science at Amherst College, is the author or editor of more than 100 books, including Gruesome Spectacles: Botched Executions and America’s Death Penalty Continue reading...

Politics

4 h. ago Eleven central bank chiefs defend Fed’s Jerome Powell over DoJ investigation; oil hits two

Rolling coverage of the latest economic and financial news, as Trump says countries doing business with Iran face 25% tariff on US tradeGlobal central bank officials are reportedly planning to release a coordinated statement of support for US Federal Reserve Chair Jerome Powell, after America’s top central banker was threatened with a criminal indictment.Reuters is reporting that the statement, which is expected to contain the signatures of central bankers from around the world, will back Powell and stress the need for independent central banking. Continue reading...

Events

5 h. ago ‘Agent of chaos’ Bill Pulte and Jeanine Pirro behind DOJ investigation of Fed Chair Jerome Powell

Chairman has dismissed probe as a political attack brought about because he refuses to lower interest rates in line with ‘the preferences of the president’

Events

7 h. ago Consumer prices likely stayed elevated in December as data recovers from shutdown

Inflation likely remained elevated last month as the cost of electricity, groceries, and clothing may have jumped and continued to pressure consumers’ wallets

Economics

9 h. ago Bessent unhappy with Justice Department’s criminal probe into Jerome Powell: report

Scott Bessent believes the Department of Justice has ‘made a mess’ with its unprecedented investigation into the Fed chair, according to insiders

Events

20 h. ago Republicans slam Powell probe as ‘coercion’ as Trump tries strong

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

Politics

21 h. ago 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 pressureEx-Fed chairs condemn Trump’s bid to weaken central bank’s independenceTrump’s attempts to influence Fed risk ‘70’s-style inflation and global backlash’Well said, Jerome Powell. The chair of the US Federal Reserve responded to news of a subpoena from the US Department of Justice with a statement that was extraordinary, necessary and stark.A criminal investigation into the Fed, and him personally, over the renovation of the central bank’s headquarters is an attempt to bully officials into setting policy according to the president’s whims, said Powell: “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead monetary policy will be directed by political pressure or intimidation.” Continue reading...

Politics

21 h. ago US bond markets should be in revolt. Fed independence matters | Nils Pratley

It is a perilous time to mess with the principle that rate-setters under an independent system should be free of political pressureEx-Fed chairs condemn Trump’s bid to weaken central bank’s independenceTrump’s attempts to influence Fed risk 1970s-style inflation and global backlash’Well said, Jerome Powell. The chair of the US Federal Reserve responded to news of a subpoena from the US Department of Justice with a statement that was extraordinary, necessary and stark.A criminal investigation into the Fed, and him personally, over the renovation of the central bank’s headquarters is an attempt to bully officials into setting policy according to the president’s whims, said Powell. Continue reading...

Politics

24 h. ago 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.

Politics

27 h. ago ‘Hundreds more’ federal agents being deployed in Minnesota after killing of Renee Good – US politics live

Kristi Noem says that more officers are being deployed amid protests in several citiesPowell announced on Sunday he is facing criminal investigation by federal prosecutors – a decision he said should be “seen in the broader context of the [Trump] administration’s threats and ongoing pressure.”Trump has repeatedly criticised the head of the Federal Reserve for refusing to set monetary policy according to his preferences. Continue reading...

Events

28 h. ago Criminal investigation into Fed chair Powell has ‘reinforced’ concerns over independence, Goldman Sachs warns – business live

Rolling coverage of the latest economic and financial newsJustice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal ReserveIn the UK property sector, a higher proportion of homes in London were sold at a loss than any other region in England and Wales last year.Estate agency Hamptons has reported that nearly 15% of London sellers sold for less in 2025 than they originally paid, almost double the national average of 8.7%.Last year, the average homeowner in England & Wales sold for £91,260 more than they paid, a value increase of 41.0% over an average holding period of 9.0 years. This is £570 less than the 2024 average of £91,830.Stronger recent price growth in Northern regions has boosted returns, meaning many sellers in the North of England achieved proportionally higher gains than those in much of the South.Flat sellers were four times more likely to make a loss than house sellers in England & Wales (19.9% vs 4.5%). Continue readin...

Events

29 h. ago 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

Politics

30 h. ago 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.

Politics

32 h. ago Dollar weakens after US prosecutors launch criminal investigation into Federal Reserve chair Jerome Powell – business live

Rolling coverage of the latest economic and financial newsJustice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal ReserveGold has hit a new high around $4.600 an ounce; it’s up over 1.5% today, pushed up by the weaker dollar.The US dollar has dropped on the foreign exchange markets since news of the investigation into Powell hit the wires.Powell highlighted that the key issue is whether the Fed can continue setting interest rates based on economic data and evidence, or whether monetary policy will be directed by political pressure.I’m afraid we may be moving toward the second scenario. If the Fed becomes a political tool, with its chair replaced by a government puppet, that could further weaken appetite for the U.S. dollar and U.S. bonds. Continue reading...

Events

36 h. ago Fed chair Jerome Powell issues defiant response as federal prosecutors open criminal probe into central bank

Federal prosecutors in Washington have opened a criminal investigation into Federal Reserve Chair Jerome Powell over whether he misled Congress about renovation of the Fed's headquarters.

Events