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Markets recover as Trump signals Iran talks still possible

MoneySavings.ca  ·  Daily Market Brief Monday, April 13, 2026  ·  End-of-day edition Markets recover as Trump signals Iran talks still possible S&P/TSX 33,696 ▲ +218 pts (+0.65%) Fri. S&P 500 6,886 ▲ +69 pts (+1.02%) Nasdaq 23,184 ▲ +1.23% Dow Jones 48,218 ▲ +302 pts (+0.63%) WTI Crude ~$104 ▲ +8.1% — elevated CAD/USD 0.7226 Roughly flat Overview North American markets closed firmly in positive territory on Monday, shaking off a rocky open that saw major indices fall more than 1% in early trading. The turnaround came after President Trump stated that the U.S. had been "called by the other side," hinting that Iranian officials may still be open to negotiation despite weekend talks in Islamabad collapsing without a deal. For Canadian...
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Trump Criticizes Federal Reserve Chair Powell Over Tariff Remarks

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President Donald Trump has publicly expressed dissatisfaction with Federal Reserve Chair Jerome Powell, hinting at his removal following Powell's comments on the economic impact of tariffs. Powell, in a recent speech, highlighted the potential for increased inflation and slowed economic growth due to the tariffs, which he described as larger than anticipated.

Trump, in a social media post, criticized Powell for not lowering interest rates aggressively, comparing the Federal Reserve's approach unfavorably to the European Central Bank. He stated that Powell's "termination cannot come fast enough," despite legal protections that prevent the president from firing the Federal Reserve Chair without cause.

Powell, who was initially appointed by Trump in 2018 and reappointed in 2022, has emphasized the Federal Reserve's independence and commitment to making decisions based on economic analysis rather than political pressure. This clash underscores ongoing tensions between the administration and the central bank over monetary policy and economic strategy.

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