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Investors could reassess U.S. assets as Powell probe reignites fears over central bank's independence from the White House.
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A 10% cap on interest rates could mean a big hit to earnings at companies like Capital One and Synchrony. But a Jefferies analyst says it's "highly unlikely" that Trump gets his way.
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A 10% rate cap would make large swaths of the credit card industry unprofitable, especially tied to customers with less-than-ideal credit, banks say.
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Banks including Citi, JPMorgan slide after Trump calls for credit card interest rate limit CNBCShares in US credit card issuers slide after Trump calls for 10% rate cap Financial TimesEuropean shares slip from peak as Trump's credit card fee cap plan rattles banks ReutersTrump Says Credit Card Firms Violate Law If Rates Not Capped Bloomberg.com
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Federal Prosecutors Open Investigation Into Fed Chair Powell The New York TimesStatement from Federal Reserve Chair Jerome H. Powell Federal Reserve Board (.gov)Morning Bid: Powell's punch back jolts markets ReutersTrump denies involvement in DOJ's Fed subpoenas: 'I don't know anything about it' NBC NewsDOJ subpoenas Federal Reserve in escalating pressure campaign
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President Trump's on-again, off-again tariffs on Chinese imports affected many U.S. businesses last year. We check in with one small business owner to ask what the year and holiday season were like.
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