3 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

6 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

8 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

9 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

9 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

12 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

15 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

16 h. ago UK regulator launches probe into Elon Musk's X over Grok deepfake images

The UK media watchdog said it will establish whether Elon Musk's social media platform X has failed to comply with its legal obligation under the Online Safety Act

Politics

16 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

17 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

18 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

20 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

24 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

25 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

25 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

25 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

27 h. ago Mystery as human remains discovered at a flat as cops charge man, 65, for ‘preventing lawful burial’

AN URGENT probe has been launched after human remains were discovered inside a flat. Police were called to the property in St Helens, Merseyside, at around 11.30am on Saturday. The force was responding to reports of a concern for safety before making the grim find. Officers uncovered human remains at the flat, in Geralds Court,...

Politics

67 h. ago West Wing actor Timothy Busfield facing child sex abuse charges in New Mexico as cops issue warrant for arrest

ACTOR and director Timothy Busfield is facing allegations of child sexual abuse. An arrest warrant has been issued for the Emmy-winning star, best known for his roles in “Field of Dreams” and the TV shows “The West Wing” and “Thirtysomething". A police probe into the film icon was launched in November 2024 when cops attended...

Events

3 d. ago 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

Politics

4 d. ago Police launch probe after three schoolboys plunge from double decker bus window

Pictures show a side window on a double decker bus carrying pupils from St Edmund Arrowsmith Catholic High School in Wigan, Lancashire, missing

Events