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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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Stock Market Today: Futures Slide Amid Government Shutdown Fears and Sticky Inflation

                                         

U.S. stock futures took a hit on Friday as investors braced for a potential government shutdown and digested mixed inflation data. Futures tied to the S&P 500 dropped 1%, while Nasdaq futures plunged 1.3%, and Dow Jones Industrial Average futures fell around 0.5%.

The looming government shutdown, driven by the House of Representatives voting against a spending bill, has heightened concerns among investors. Additionally, the Federal Reserve's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) index, showed a slight month-over-month increase of 0.1% in November, indicating persistent inflationary pressures.

Key companies like Nvidia, AMD, and Broadcom faced significant pressure, while Tesla saw a 6% drop following a vehicle recall. Bitcoin prices also retreated nearly 10% amid record ETF outflows.

Investors remain cautious as they await further developments on both the political and economic fronts.



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