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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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Market Cautious as Jobs Data Looms

                                           

US stock futures retreated today as investors cautiously weighed rate-cut odds ahead of crucial jobs data.

 Dow Jones Industrial Average futures (YM=F) and S&P 500 futures (ES=F) both fell roughly 0.4%, while tech-heavy Nasdaq 100 futures (NQ=F) were down about 0.6%. 

The market is playing it safe in a week dominated by Friday’s June jobs report, and doubts are creeping in about stocks maintaining their first-half rally. Investors are also closely watching political risk, speculating on what a Trump election win could mean for markets. 

Jerome Powell’s speech and weekly job openings data will further shape expectations for interest-rate cuts.


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