The bombshell revelations from Sunday that Donald Trump’s Department of Justice is criminally probing the Federal Reserve have prompted heated pushback from the president’s allies in the GOP-controlled Congress, according to Politico, with one House member warning that the move "will haunt us all for a generation."
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Federal Reserve Chair Jerome Powell reveals a criminal investigation and grand jury subpoenas linked to his testimony on Fed matters, framing the move as political pressure from the Trump administration.
WASHINGTON – Rep. Tom Kean Jr. (R-7th) on Thursday joined 16 other Republicans in the House in voting with every Democrat to extend federal health insurance subsidies for three years, against the wishes of party leaders.
Another week, and another new risk factor to digest. This time it’s a sharp escalation in President Donald Trump’s struggle with the Federal Reserve, which critics charge is a thinly-veiled effort to force the central bank to lower interest rates.
12:08pm: Trump proposes credit card interest rate cap Shares of banks and credit card companies moved lower after US president Donald Trump proposed capping interest rates on cards to 10% for a year starting January 20, rekindling an idea initially put forward during his 2024 presidential campaign. The average interest rate for credit cards in the US is reportedly about 20%. In a…
WASHINGTON — President Donald Trump’s feud with Federal Reserve Chairman Jerome Powell has escalated into a Department of Justice investigation, raising alarm bells among some Republicans in the Senate, where Trump will need broad backing from GOP lawmakers to get his choice for the next Fed chairman approved after Powell’s term ends in May.
Federal Reserve Chair Jerome Powell revealed in a defiant statement late Sunday that the US Department of Justice is threatening him with criminal charges, a step the central bank chief condemned as “intimidation” for not bowing to President Donald Trump’s demands on interest rate policy.
Some bells you can’t unring. Some doors are one-way. The United States is about to find out whether the attempted criminal prosecution of its central banker is one of those. The big picture: The news Sunday night that President Trump’s Justice Department is conducting a criminal investigation into Federal Reserve chair Jerome Powell over his Congressional testimony on the Fed’s…
Root Inc‑OH, listed on Nasdaq under the ticker ROOT, has emerged as a prominent player at the intersection of technology and insurance. With a market capitalization of approximately $1.18 billion, the company leverages mobile telematics and a sophisticated data‑driven platform to segment individual risk. This capability allows insurers to price policies more accurately and to…
A lot of things happened. Here are some of the things. This is TPM’s Morning Memo. Programming note: Join me for the first Morning Memo Live event on Jan. 29 in Washington, D.C. Find details and tickets here.
11:15am: Week ahead Wall Street faces a potentially volatile week as the Q4 earnings season kicks off for major banks, key economic data is released, and political developments in the US and Europe add uncertainty. Financial results will take center stage. JP Morgan and Bank of New York report on Tuesday, Citigroup and Bank of America on Wednesday, and Goldman Sachs, BlackRock, and…
The DOJ has taken aim at Fed chairman Jerome Powell, handing the high court a case-in-point for preserving Fed independence from politically motivated threats. The post Trump DOJ threatens ‘unprecedented’ criminal charges against Federal Reserve chairman, and the timing couldn’t be worse first appeared on Law & Crime.
You find the perfect waterfront home in Martin County, secure mortgage pre-approval, and then the insurance quote arrives: $6,000 or more per year. Suddenly, your monthly payment jumps by $500, and what seemed affordable quickly feels out of reach. For buyers and owners across the Treasure Coast, rapidly rising insurance costs are becoming a hidden […]
9:55am: Gold surges on Fed fears US stocks retreated from record highs on Monday morning as investors reacted to the news that prosecutors have opened a criminal investigation into Federal Reserve chair Jerome Powell. The Dow Jones was down 0.3% at 49,334 points, the S&P 500 was down 0.1% at 6,961 points, and the Nasdaq fell 9 points to 23,665 points. Concerns about Fed…
A new cryptocurrency education workshop teaches systematic approaches to digital asset trading through automated tools and technical analysis. The training covers blockchain fundamentals, trading platform navigation, and risk management strategies for participants interested in cryptocurrency markets.
TLDR Crypto investment products recorded $454 million in net outflows last week. Investor sentiment shifted due to reduced expectations of a Federal Reserve rate cut in March. Bitcoin funds led the withdrawals with $405 million in redemptions. Ethereum investment products saw $116 million in outflows during the same period. Multi-asset crypto funds recorded $21 million […] The…
Ahead of the bell: Retreat from record territory US stock futures fell on Monday morning, retreating from record highs after a criminal investigation into Federal Reserve chair Jerome Powell sparked fresh concern over the central bank’s independence. Dow Jones futures slipped 0.7%, with S&P 500 futures down 0.55%. The Nasdaq 100 led losses, falling close to 0.8% after a string of…
A new chapter in the confrontation between Donald Trump and US Federal Reserve Chairman Jerome Powell. "On Friday, the Department of Justice delivered grand jury subpoenas to the Federal Reserve, threatening criminal charges related to my testimony before the Senate Banking Committee last June," Powell said in a statement and video. Trump and other senior…
The chairman of the United States Federal Reserve, Jerome Powell, announced that the central bank is facing legal action for not cutting interest rates, something demanded by US President Donald Trump. In a statement released on Sunday, Jerome Powell said the institution had received a subpoena from the Department of Justice that could lead to impeachment…
The head of the US Federal Reserve, Jerome Powell, announced that the central bank is facing legal action for not cutting interest rates, something demanded by US President Donald Trump. In a statement released on Sunday, Jerome Powell said that the institution, known as the Fed, had received a subpoena from the Department of Justice that could lead to impeachment…
