6 h. ago Dimon warns Trump administration’s attacks on Fed could boost inflation

JPMorgan chief says he has ‘enormous respect’ for central bank chair Jay Powell

Events

6 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

6 h. ago Central bank chiefs ‘stand in full solidarity’ with Jay Powell

Governors from 11 institutions issue statement of support for embattled Fed chair

Politics

7 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

7 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

8 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

18 h. ago Top Republicans denounce justice department’s criminal probe into Fed chair

Backlash builds as Trump administration’s prosecutors target head of US central bank

Politics

21 h. ago DoJ’s probe into Powell galvanises Fed leaders to repel Trump attacks

Central bank chair could stay on board beyond this year in effort to protect central bank’s independence

Politics

23 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

24 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

24 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

31 h. ago Gold tipped to hit record $5,000 as probe into US Fed chief sends shockwaves through financial markets

Gold raced to a fresh record high and the dollar fell as a criminal investigation into the head of the US Federal Reserve fuelled fears over the central bank's independence.

Economics

32 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

33 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

39 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

40 h. ago 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 demandsThe Department of Justice has opened a criminal investigation into Jerome Powell and the Federal Reserve, a significant escalation in Donald Trump’s extraordinary attack on the US central bank.Powell said the Department of Justice had served the Fed with grand jury subpoenas on Friday, threatening a criminal indictment related to his testimony before the Senate banking committee in June last year, regarding renovations to the Fed’s historic office buildings in Washington DC. Continue reading...

Politics

40 h. ago Republican senator says ‘independence and credibility’ of Department of Justice is in question amid Powell criminal probe

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

Politics

41 h. ago Federal prosecutors open criminal probe into Fed Chair Jerome Powell

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

Events

41 h. ago US prosecutors investigate Jay Powell over revamp of Fed headquarters

Central bank chair says probe is retaliation for refusal to bow to Trump’s demand for interest rate cuts

Events

41 h. ago US prosecutors launch criminal investigation into Fed’s Powell

Central bank chair says grand jury subpoenas are retaliation for refusal to bow to demand to cut interest rates

Events