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Trump escalates pressure on the Federal Reserve with Powell probe
Trump administration investigates Fed Chair Powell, raising concerns over political pressure on monetary policy and economic stability.
Trump administration investigates Fed Chair Powell, raising concerns over political pressure on monetary policy and economic stability.
The Trump administration has launched a criminal investigation into Federal Reserve Chair Jerome Powell, dramatically escalating tensions between the White House and the central bank.
The probe centres on Powell’s testimony over a controversial renovation of the Federal Reserve’s headquarters, raising alarm over whether political pressure is being applied to monetary policy decisions.
The move has sparked fierce debate in Washington, with critics warning it could undermine investor confidence and destabilise economic expectations.
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News
Trump claims Iran military neutralised as Strait Of Hormuz tensions surge
Trump claims Iran’s military largely neutralized; tensions rise with attacks threatening air travel and oil shipping.
Trump claims Iran’s military largely neutralized; tensions rise with attacks threatening air travel and oil shipping.
President Trump says Iran’s military capability has been largely neutralised, including its navy and air force, as the conflict in the Middle East intensifies. Iranian attacks have threatened commercial air travel and oil shipping through the Strait of Hormuz, raising fears of wider economic fallout.
The U.S. Embassy in Riyadh has faced two attacks, while Gulf states worked to intercept further Iranian strikes. Officials report six U.S. troops killed and more than 700 deaths inside Iran as the exchange of fire escalates.
With global markets watching closely, the region remains on edge as military and diplomatic tensions show no signs of easing.
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What’s happening in the Middle East?
- Trump says U.S. strikes could last four to five weeks and described the operation as the last best chance to act, while Secretary of State Marco Rubio warns the hardest hits are yet to come
- Six U.S. service members have been killed, additional American forces are being deployed to the region, and the White House says nine Iranian naval ships have been destroyed
- Iran says it sees no limit to its right to self defence and will not negotiate, as missile and drone attacks continue across Israel, Lebanon and Gulf states
- More than 500 Iranians have been killed in U.S. and Israeli strikes, with further deaths reported in Lebanon, Israel and the UAE
- Shipping, aviation and energy markets have been severely disrupted, more than 11,000 flights have been cancelled, Gulf stock markets have closed temporarily, and oil and gas prices have surged amid Strait of Hormuz fears
News
Oil prices surge amid rising Middle East conflict risks
Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.
Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.
Crude oil prices spiked dramatically as investors react to the growing risk of a wider conflict in the Middle East. U.S. crude surged 7.2 percent, trading near $71.84 a barrel, signalling heightened concern across energy markets.
The Strait of Hormuz, a critical shipping chokepoint, has come under intense scrutiny. Rising war-risk insurance premiums and suspended tanker traffic are already slowing the movement of oil, creating ripple effects in global supply chains.
JPMorgan has warned that prolonged disruptions over three weeks could force Gulf producers to reduce output, potentially pushing Brent crude prices to between $100 and $120 a barrel. Markets are closely watching for developments that could reshape global energy pricing.
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