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Trump–Powell Showdown Intensifies as White House Floats Criminal Charges

                                                       Donald Trump and Federal Reserve Chair Jerome Powell A dramatic escalation in the long‑running tension between President Donald Trump and Federal Reserve Chair Jerome Powell has thrust the independence of the U.S. central bank into the spotlight. The conflict deepened after Powell disclosed that the Department of Justice had issued grand jury subpoenas to the Federal Reserve—an action he suggested was politically motivated. The inquiry centers on Powell’s congressional testimony about cost overruns tied to a Federal Reserve building renovation. Powell has dismissed the investigation as a pretext, arguing that the administration’s real aim is to pressure the Fed into cutting interest rates more aggressively, a move Trump has repeatedly demanded. The threat of potential...
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Wall Street Cheers Trump’s Treasury Pick, Stocks Rise

                                    

U.S. stocks saw a significant rise on Thursday as Wall Street reacted positively to President-elect Donald Trump's announcement of his Treasury Secretary pick, hedge fund manager Scott Bessent. The Dow Jones Industrial Average climbed by 461 points, or 1.1%, while the S&P 500 and Nasdaq Composite also posted gains.

Investors welcomed Bessent's nomination, viewing it as a sign of stability and a potential boost to economic policies. The market's optimism was further fueled by strong earnings reports from companies like Nvidia, which exceeded profit and revenue expectations.

As the market continues to react to Trump's cabinet selections, all eyes will be on upcoming retail earnings reports and other economic indicators to gauge the future direction of the stock market.



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