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Fed Chair Jerome Powell says the Justice Department has opened a criminal investigation tied to his past testimony about the Fed’s headquarters renovation, including grand jury subpoenas.
Powell describes the move as an indictment threat … and he’s framing it as political pressure aimed at forcing faster rate cuts and weakening the Fed’s independence.
Powell’s chair term runs until May 2026
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President Trump says Iran is “starting to” cross U.S. red lines as protests spread and the regime’s crackdown turns deadly. Speaking aboard Air Force One, Trump pointed to reports of civilians being killed and said his team is weighing “very strong options,” while warning Iran that any attack on U.S. interests would bring an overwhelming response. Activist groups cited by AP say hundreds have been killed and thousands detained, and reporting says Iran has tightened control with a sweeping internet blackout as officials accuse foreign powers of stoking unrest.
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Credit card interest rates are suddenly in the crosshairs after President Trump urged card companies to slash rates to 10% for one year, starting January 20, 2026, arguing Americans are getting “ripped off” by rates in the 20%–30% range.
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