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The Latest Breaking News from Jerome Powell

DOJ probe on Powell draws swift backlash from Congress as key GOP senator says he won't confirm anyone for the Fed until case is resolved

"If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none."

Fortune

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 demands

The Guardian - US

Powell blasts DOJ criminal probe as attack on Fed independence. 'Public service sometimes requires standing firm in the face of threats'

He said in a statement Sunday that the Justice Department served the Fed with grand jury subpoenas, threatening a criminal indictment.

Fortune

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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

The Independent UK

Trump's DOJ launches criminal investigation of Fed chair Powell

Powell calls the investigation an assault on the Fed's independence from politics.

Axios

US hiring held firm in December capping weakest year of growth since pandemic

White House is meanwhile facing questions about an apparent embargo breach over Trump’s social media post

The Guardian - US

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

The Independent UK

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Why Your Bank Suddenly Lowered Your APY — And What to Do Next

Why banks lower APYs, options you can explore when it happens and whether more rate cuts are on the horizon.

Kiplinger

Ray Dalio warns AI is in the early stages of a bubble

After strong returns in U.S. markets last year, 2026 might be a different story.

Fortune

‘What a spin’: Trump insults Jerome Powell, forgets he appointed the fed chair, and blames Biden for reappointing him

Donald Trump has never met a problem he didn’t immediately blame on Joe Biden. On Monday, he turned that reflex toward the Federal Reserve. Apparently, Jerome Powell not working to Trump’s standard is also Biden’s fault.

The Mary Sue

Bank of America CEO says he hired 2,000 recent Gen Z grads from 200,000 applications, and many are scared about the future

Brian Moynihan says the fears are understandable, but urges young grads not to lose hope about the job market.

Fortune

Dollar set for worst year since 2017 with Fed drama center stage

“The biggest factor for the dollar in first quarter will be the Fed,” said Yusuke Miyairi, a foreign-exchange strategist at Nomura.

Fortune

Fed up: inside Trump’s unprecedented bid to exert control over the US central bank

The US president and his allies spent 2025 attacking the Federal Reserve amid a rollercoaster year for the US economy

The Guardian - US

Division at the Fed: Some officials want to keep interest rates on hold "for some time"

The Fed is split over whether to keep cutting rates, minutes from their policy meeting show.

Axios

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The Guardian - UK

Five charts that explain the global economic outlook for 2026

Inflation is predicted to cool but uncertainty over AI-driven growth and trade policy poses risks in the year ahead

The Independent UK

Trump veers off topic at Netanyahu press conference to talk inauguration plans for $400M White House ballroom

President Donald Trump says entertainment space will be ‘bigger’ than previously described and suggests his successor will be sworn in within its walls in January 2029

The Guardian - US

Trump news at a glance: president greets Netanyahu, warns Hamas, threatens to sue Jerome Powell

Israeli prime minister’s Florida trip included announcement that he will award Trump with Israel prize

The Independent UK

Trump says he is considering a ‘gross incompetence lawsuit’ against Fed chairman over building renovation

President threatened to allow ‘a major lawsuit against Powell to proceed’ earlier this year

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The Guardian - US

Trump says he’d ‘love to fire’ Jerome Powell in latest attack on Fed chair

Trump also repeated false claims about renovation costs for the Fed headquarters during a Monday press conference

Fortune

‘We’ve gotten out of whack’ by fixating so much on Fed rates, but the loss of its independence will be punished, BofA CEO Brian Moynihan says

“There’s too much fascination with the Fed,” Moynihan said.

Fortune

The weakest labor market since 2011 has BofA asking, ‘Dude, where’s my job?’

“A lack of recovery in the jobs market and a slower U.S. economy are key risks to watch for in 2026.”

Fortune

No one’s happier about calls for a ‘back-seat’ Fed than Fed insiders who were targeted by the White House this year

“How much can truly change under a single administration?” I asked one source. “Three years is a long time yet,” came the response.

The Guardian - US

The 2025 US economy – in charts: rising prices, hiring slowdown, rollercoaster growth

Looking at the government’s own report cards, how did the US fare under the first year of Trumponomics 2.0?

Fortune

Silver prices continue soaring as debt fears and geopolitical tensions send precious metals to fresh record highs

So far this year, silver has spiked 169%, platinum has shot up 172%, and palladium has soared 124%.

Fortune

The Fed may have reassured Powell that it's safe to leave the board early when a new chair takes over. 'I think he's done with this job'

Given Powell's commitment to Fed independence, there were doubts that he would leave the board when his replacement as chair comes in.

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