Jerome Powell is openly challenging President Trump’s economic policies and defending the Federal Reserve’s independence. Powell criticized tariffs as harmful to the economy and asserted the Fed would not bow to political pressure. Trump swiftly responded, reiterating his desire to replace Powell, highlighting the ongoing tension over monetary policy and the Fed’s autonomy.
US stocks: US market ends mixed as investors focus on Big Tech earnings
Wall Street closed mixed as investors awaited tech earnings and feared rate hikes. Oil prices fell after President Trump discussed peace talks with Iran. Major