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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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Trump’s 10% Credit‑Card Cap Sparks Market Jolt as Lenders Tumble

 


A sharp sell‑off hit major U.S. credit‑card lenders after President Donald Trump announced a proposed one‑year cap limiting credit‑card interest rates to 10%, a move that immediately rattled financial markets and triggered pushback from banks.

U.S. credit‑card lenders were hammered in early trading after President Donald Trump unveiled a proposal to cap credit‑card interest rates at 10% for one year, beginning January 20. The announcement, posted late Friday on Truth Social, sent shares of major issuers sharply lower as investors reacted to the potential hit to a key profit stream.

Capital One and Synchrony Financial plunged as much as 10% in premarket trading, while American Express and Citigroup slid around 4%, and larger banks such as JPMorgan Chase and Bank of America fell roughly 2–3%. The proposal aims to address affordability concerns, with Trump criticizing current rates that often exceed 20% to 30%.

Despite the market shock, analysts caution that the plan faces significant legal and political hurdles. Some argue that Trump may lack the executive authority to impose such a cap without congressional action, making the proposal far from guaranteed to become policy. Still, the announcement alone was enough to send ripples through the financial sector, highlighting how sensitive lenders are to regulatory threats targeting consumer credit.


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