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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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Trade War Escalation Sends Markets Tumbling

                                            

The stock market faced significant turbulence today as futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq slid sharply. This downturn comes in response to China's retaliatory tariffs against the United States, following President Trump's imposition of hefty duties on Chinese imports. Beijing announced an 84% tariff on U.S. goods, escalating tensions between the world's two largest economies.

Investors are grappling with the potential fallout of this trade war, which has already roiled global markets. The S&P 500 edged closer to bear market territory, while the Nasdaq and Dow futures dropped by over 2%. Oil prices also took a hit, with West Texas Intermediate falling below $55 per barrel.

As the trade conflict intensifies, market participants are closely watching for signs of resolution or further escalation. Treasury Secretary Scott Bessent expressed optimism about potential trade deals, but uncertainty remains high. The Federal Reserve's upcoming minutes and inflation data may provide additional insights into the economic impact of these tariffs.


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