A group of global central bank leaders issued a joint statement on Tuesday to express their support for Federal Reserve Chair Jerome Powell as he faces a criminal investigation from the Trump administration's Department of Justice. Powell announced on Sunday that the DOJ served grand jury subpoenas to the Federal Reserve on Friday related to an investigation into perjury allegations stemming from his testimony before the Senate Banking Committee last summer on the Fed's renovation project. He released a rar ...

President Donald Trump wants the Federal Reserve to slash rates, even to zero. That’s the president wish. Last year, he even made it clear that Jerome Powell was not his ideal chair. Trump wants someone to do as the executive wishes. The hindrance is: The Fed is an independent entity and Powell is data-guided, so the FOMC says. Inflation and how the labor market performs matter more than what politicians desire. In 2026, the Fed might not even slash rates. This was their message in the last meeting. The ...