#jerome_powell

Twin Cities residents earn national honor for peaceful protest during ICE surge The John F. Kennedy Library and Museum honored Minnesotans and Federal Reserve Chair Jerome Powell with the Profile in Courage Award, recognizing their actions during the heightened immigration enforcement operation known as Operation Metro Surge. The award, traditionally reserved for presidents, first responders, and heads of state, was presented to Twin Cities residents for their role in peacefully resisting federal overreach and safeguarding immigrant rights amid the surge. The recognition highlights the community’s collective effort to protect neighbors during the immigration crackdown, which led to two U.S. citizen deaths, hundreds of arrests, and significant economic disruption for local businesses. The library’s statement emphasized the courage of tens of thousands who marched, documented enforcement activities, and warned neighbors about federal agents’ presence. Despite facing violent confrontations and personal risks, residents across religious, racial, and political lines united in peaceful resistance, reinforcing the national movement to defend American democracy. The award also acknowledged Jerome Powell for his role in preserving the Federal Reserve’s independence, a position that has made him a target of President Donald Trump. Caroline Kennedy and her son, Jack Schlossberg, will present the award to Powell and Twin Cities residents via livestream on May 31. This marks one of the first instances the Profile in Courage Award has been given to civilians for their actions during Operation Metro Surge. The recognition was partly inspired by a campaign led by The Nation magazine and actor Mark Ruffalo, who urged citizens to nominate Minneapolis for a Nobel Peace Prize.#twin_cities #jerome_powell #operation_metro_surge #john_f_kennedy_library_and_museum #the_nation_magazine

Residents of the Minneapolis-St. Paul metropolitan area have been recognized with the John F. Kennedy Profile in Courage Award for their collective response to a major federal immigration enforcement operation in the region. The JFK Library Foundation announced the honor on Wednesday, highlighting the community’s efforts to resist what it described as the largest immigration enforcement action in U.S. history. The award acknowledges the risks taken by residents to protect immigrant neighbors and uphold constitutional rights during the operation, which saw over 3,000 federal agents from U.S. Immigration and Customs Enforcement (ICE) and the Border Patrol deployed to the Twin Cities in late 2025. The foundation emphasized that tens of thousands of people participated in peaceful protests, while others documented enforcement activities and warned communities about the presence of federal agents. Two individuals, Renee Good and Alex Pretti, were killed during the operation, underscoring the dangers faced by those involved. Protesters gathered in large numbers during an "ICE Out" day of action on January 23, 2026, in Minneapolis. The event, organized by community leaders, faith groups, and labor unions, saw hundreds of local businesses close as part of a statewide general strike. Demonstrators called for an end to what they viewed as overreach by federal authorities and threats to immigrant families. Faith leaders played a key role in organizing demonstrations, while community groups established rapid-response networks to support those affected. Labor leaders and small businesses also defended workers, providing critical resources and advocacy during the crisis.#jerome_powell #minneapolis_st_paul #john_f_kennedy_profile_in_courage_award #ice_out_day_of_action #caroline_kennedy

War in the Middle East Oil Prices Hold Steady as Global Stocks Nudge Lower Oil prices remained stable on Friday after the Trump administration attempted to ease market tensions, with prices staying below Thursday’s peak of $119 per barrel. Global stock markets also showed limited movement, with most trading lower despite some regional gains. The week’s oil price surge was driven by renewed attacks on key energy infrastructure in Iran and Qatar, which raised concerns about disruptions to global energy supplies. Brent crude, the global benchmark, fluctuated around $108 per barrel on Friday, having reached a high of $119 on Thursday—a nearly 10% increase. West Texas Intermediate crude, the U.S. benchmark, settled at $95.55, up from $96 earlier in the day. The volatility was further fueled by reports of an airstrike on South Pars, a shared offshore gas field between Iran and Qatar, which damaged Iranian facilities. A Qatari energy firm confirmed that its Ras Laffan Industrial City, a major energy hub, suffered “extensive damage” from missile attacks. Qatari officials attributed the strike to Iran. The Strait of Hormuz, a critical shipping route for oil and gas that handles about one-fifth of the world’s oil supply, has seen halted traffic due to fears of attacks on vessels exiting the Persian Gulf. Gasoline prices rose again, with the national average reaching $3.91 per gallon on Friday, according to the AAA motor club. This marks a 31% increase since the war began. Treasury Secretary Scott Bessent hinted at potential measures to curb prices, including unsanctioning Iranian oil shipments—approximately 140 million barrels—and releasing more oil from U.S. strategic reserves. Diesel prices climbed even more sharply, hitting $5.16 per gallon, a 37% rise since the conflict started.#strait_of_hormuz #trump_administration #jerome_powell #ras_laffan_industrial_city #south_pars

Bonds Weren't Prepared For Fed's Inflation Fears The market appeared unprepared for the Federal Reserve’s emphasis on inflation concerns beyond energy prices, as Federal Reserve Chair Jerome Powell shifted focus during a recent press conference. Despite rising energy costs, Powell highlighted slower progress in core goods and non-housing services inflation, suggesting rate cuts remain unlikely in the near term. This stance has led investors to adjust expectations, with the market now anticipating the next rate cut to occur more than a year from now. The financial markets reacted to the Fed’s messaging, with bond yields fluctuating in response to the central bank’s cautious outlook. Initially, bonds faced pressure from oil price spikes, which pushed yields higher. However, Powell’s comments on broader inflation categories caused yields to stabilize near recent highs, while mortgage-backed securities (MBS) experienced a decline of nearly half a point. Further volatility followed as oil prices surged, prompting a renewed upward trend in 10-year Treasury yields. The 10-year bond climbed by 2.8 basis points to 4.227, while MBS dropped by more than an eighth of a point. Despite some modest gains after the Fed’s announcement, MBS remained down by 3 ticks, or 0.09 points, with the 10-year yield rising to 4.214. By the end of the session, MBS had fallen by 9 ticks, or 0.28 points, as the 10-year yield climbed to 4.253, up 5.3 basis points. The market’s weakest levels were marked by a significant drop in MBS and a continued rise in Treasury yields, reflecting uncertainty about the Fed’s path forward amid mixed inflation data. The situation underscores the delicate balance between inflation control and economic growth, with investors closely watching for further guidance from policymakers.#treasury_yields #federal_reserve #bond_yields #jerome_powell #mbs

Gold Price Drops Following Fed's Rate Decision Gold prices declined on Thursday as the Federal Reserve maintained its interest rate policy, with the metal’s April futures opening at $4,828 per troy ounce, a 1.4% drop from Wednesday’s close of $4,896.20. Early trading saw the price fall below $4,700, reflecting market reactions to the Fed’s latest economic outlook. The central bank’s decision to leave rates unchanged followed its March policymaking meeting, with the Summary of Economic Projections (SEP) indicating a median forecast of one rate cut in 2026, unchanged from the previous December forecast. Federal Reserve Chair Jerome Powell highlighted the potential impact of the Iran war on global oil supply, warning that the conflict could lead to higher inflation and, in turn, reduced spending and employment. He emphasized the tension between inflation risks and a weak labor market, noting that the Fed typically raises rates to combat inflation and lowers them to stimulate economic activity. Gold, which does not generate interest, tends to perform poorly in high-rate environments, as investors shift toward assets offering higher returns. The current gold price movement contrasts with historical trends, as the one-month decline of 3.7% and the one-year drop of 59.1% mark a significant reversal from earlier gains. Gold’s year-over-year growth has not been this low since early February, while its peak growth of 95.6% occurred on January 29. Analysts suggest that the metal’s recent underperformance may be tied to the Fed’s dovish stance and expectations of future rate cuts, which reduce the opportunity cost of holding non-yielding assets like gold. For investors, the decision to allocate funds to gold depends on broader economic conditions.#gold #iran_war #federal_reserve #jerome_powell #fed

Silver Price Plummets as Gold and Silver Drop Amid US Rate Decision and Global Tensions Silver and gold prices experienced a sharp decline on Thursday, with silver losing over 5% and gold falling approximately 2.5%. On the MCX, silver prices dropped by Rs 12,000 per kg, while gold prices fell by Rs 4,500 per 10 grams. As of now, silver is trading at around Rs 2.35 lakh per kg, and gold has dipped below Rs 1.50 lakh per 10 grams. The crash coincided with a broader stock market downturn, intensifying the downward spiral for precious metals. The primary driver behind the price drop is the US Federal Reserve’s decision to maintain interest rates unchanged and signal no rate cuts in 2026. Federal Reserve Chairman Jerome Powell highlighted global economic challenges, citing international tensions as a key factor. This news sent shockwaves through global markets, leading to a sharp decline in both gold and silver prices. Investors interpreted the Fed’s stance as a sign of prolonged high rates, which reduces the appeal of non-yielding assets like precious metals. Silver, which had been on a relentless upward trajectory for two years, reached a record high of Rs 4.2 lakh per kg on 29 January 2026. However, the price has since slid, falling to Rs 2.25 lakh per kg by 2 February 2026 as investors began taking profits. The current price of Rs 2.35 lakh per kg marks a decline of Rs 1.85 lakh per kg from its peak, signaling the end of the previous rally. The situation is further complicated by geopolitical tensions, particularly the US-Iran conflict. Typically, global instability drives demand for gold and silver as safe-haven assets. Yet, this time, the opposite is occurring. The ongoing tensions have instead increased selling pressure, with investors shifting toward other assets or cash.#us_iran_conflict #mcx #jerome_powell #us_federal_reserve #global_economic_challenges

Silver Price Crash: Sudden Drop in Silver and Gold Prices, What's Next? Silver and gold prices have experienced a sharp decline, with silver prices falling over 5% and gold dropping nearly 2.5% on Thursday. The drop came amid global tensions, as markets reacted to escalating conflicts in the Middle East. On Wednesday, the U.S. Federal Reserve decided to keep interest rates unchanged, signaling limited chances of rate cuts this year. Federal Reserve Chair Jerome Powell warned that global tensions have worsened economic conditions, leading to a sharp sell-off in precious metals. The sudden crash in silver prices was triggered around noon on Thursday, with silver prices plummeting to 12,000 rupees per kilogram, a significant drop from earlier levels. Gold prices also fell, with the 10-gram price dropping by nearly 4500 rupees. Currently, silver is trading around 2.35 lakh rupees per kilogram, while gold is trading below 1.50 lakh rupees per 10 grams. The decline in silver and gold prices is linked to ongoing conflicts in the Middle East. Iran retaliated against U.S. attacks on its oil infrastructure by striking a major oil refinery in Qatar, causing widespread damage. The attack has intensified fears of a broader regional conflict, with crude oil prices surging to 113 dollars per barrel. Analysts warn that the escalating violence could lead to a more dangerous war, as both sides continue to target each other's economic infrastructure. The sharp drop in silver prices follows a prolonged rally that began in early 2026. On January 29, 2026, silver prices hit a record high of 4.20 lakh rupees per kilogram. However, prices have since declined, with silver falling to 2.25 lakh rupees per kilogram by February 2, 2026. The recent drop is attributed to profit-taking after the rally, but the current crisis has further pressured prices.#iran #middle_east #qatar #federal_reserve #jerome_powell

Fed Meeting Today: The Central Bank Holds Rates Steady, Points to One Cut This Year The Federal Reserve’s Federal Open Market Committee (FOMC) decided to maintain its benchmark interest rate range at 3.50% to 3.75% during its March 18, 2026, meeting. This marks the second consecutive meeting where the central bank opted not to lower rates, following a similar decision in January. The decision aligns with previous forecasts, as officials continue to project only a single rate reduction in 2026, a stance unchanged since the December meeting. Economic projections released alongside the decision indicate the Fed expects the U.S. economy to grow at an average rate of 2.4% in 2026, slightly higher than the 2.2% forecasted in December. This revision reflects updated assessments of consumer spending, business investment, and labor market conditions. However, the central bank remains cautious, emphasizing that inflationary pressures, though easing, still pose risks to long-term price stability. Notably, Governor Stephen Miran cast the sole dissenting vote against the decision to keep rates unchanged. In a statement, Miran argued that the current economic data suggests a more accommodative stance could be warranted to support growth without compromising inflation control. His dissent highlights ongoing internal debates within the Fed about the appropriate balance between stimulating the economy and maintaining price stability. Chair Jerome Powell addressed the broader economic outlook during his post-meeting press conference, acknowledging the potential impact of geopolitical tensions. He specifically mentioned the ongoing conflict in Iran as a factor that could introduce uncertainty into global markets.#iran #federal_reserve #jerome_powell #fomc #stephen_miran

Federal Reserve Maintains Interest Rates Amid Rising Inflation and Geopolitical Uncertainty The Federal Reserve decided to keep its benchmark interest rate unchanged, maintaining a target range of 3.5% to 3.75% during its latest meeting. Policymakers indicated that a potential rate cut could occur later this year, as reflected in the “dot plot” of projections from Federal Open Market Committee (FOMC) members. However, the decision came amid heightened uncertainty due to the ongoing U.S.-Iran conflict, which has driven oil prices to record levels and complicated inflation forecasts. Oil prices surged to over $109 per barrel during the week, fueled by supply disruptions in the Middle East. This spike has raised concerns about inflation, as the producer price index for February showed stronger-than-expected increases. Futures markets now suggest that any rate cuts may be delayed until at least December, according to CME Group’s FedWatch tool. Investors closely monitored Fed Chair Jerome Powell’s press conference, where he addressed the central bank’s outlook on inflation, economic progress, and the broader implications of the war. Powell emphasized that while the U.S. economy remains resilient, the long-term effects of the conflict are unpredictable. “We don’t know what the effects of this will be,” he stated, noting that no one has a clear understanding of how the war will impact economic conditions. He also acknowledged that the Fed’s progress on reducing inflation has been slower than anticipated, with the central bank projecting only modest improvements this year. “We will be making progress on inflation, not as much as we had hoped, but some progress,” Powell said, highlighting the need for continued monitoring of inflationary pressures.#iran_war #federal_reserve #jerome_powell #fomc #cme_group

Hang Seng Closes Higher After Early Losses The Hang Seng Index ended the trading session higher on Wednesday, recovering from early losses and extending gains from the previous day. The index rose 157 points, or 0.6%, to close at 26,025. Most sectors contributed to the upward movement, with sentiment improving as U.S. futures surged ahead of the Federal Reserve’s rate decision and its first 2026 policy projections. While markets anticipate the policy rate to remain unchanged, attention is focused on potential signals about Jerome Powell’s future role, as his term as chair concludes in May. In China, stock markets showed slight gains ahead of the People’s Bank of China’s (PBoC) planned lending rate review on Friday. Risk appetite was further boosted by news that Nvidia has received approval to export advanced AI chips to the mainland, which could enhance demand for technology stocks. Meanwhile, Cathay Pacific announced it would continue suspending Middle East flights until April 30, reflecting ongoing operational adjustments. The day’s top performers included Minimax Group, which surged 19.4%, followed by Knowledge Atlas with an 18.6% increase. CK Hutchison, Henderson Land Development, and AIA Group also saw significant gains, rising 2.9%, 2.5%, and 1.6%, respectively. In contrast, Geely Auto declined 3.2% after reporting flat annual profits despite recording higher sales and improved margins. The market’s positive momentum appears to be driven by a combination of factors, including optimism about global economic conditions, expectations for central bank policy guidance, and developments in key sectors such as technology and aviation. However, investors remain cautious, with the Fed’s upcoming decisions and China’s monetary policy outlook serving as critical watchpoints for the near term.#federal_reserve #jerome_powell #people_s_bank_of_china #hang_seng_index #cathay_pacific

Gold prices steady with Iran conflict, Fed meeting in focus Gold prices remained stable on Monday as tensions over the U.S.-Israel conflict with Iran continued to dominate market sentiment, with investors closely watching the upcoming Federal Reserve meeting for potential policy signals. The metal’s performance was also influenced by broader geopolitical risks and concerns over inflation, which have kept the U.S. dollar strong and interest rates elevated. Spot gold hovered near $5,016.84 per ounce, while gold futures dipped slightly to $5,502.07 per ounce, reflecting cautious trading ahead of the Fed’s decision. The Iran conflict showed no signs of de-escalation, with the U.S. and Israel launching strikes on a key Iranian export terminal over the weekend. Tehran responded with retaliatory threats, intensifying fears of further regional instability. Oil prices remained above $100 per barrel, though they softened slightly after U.S. President Donald Trump indicated ongoing diplomatic efforts to reopen the Strait of Hormuz, a critical shipping route blocked by Iran. Analysts noted that gold has underperformed since the conflict began, as its appeal as a safe-haven asset has been overshadowed by concerns over prolonged inflation and rising interest rates. ANZ analysts highlighted that gold’s struggles are driven by a stronger U.S. dollar, higher bond yields, and uncertainty surrounding the Fed’s stance on inflation. They also pointed to liquidations by traders to meet margin calls as a factor in the metal’s recent weakness. However, they acknowledged that gold’s role as a hedge against geopolitical risks remains intact, with the metal up about 16% in 2026. Broader metal prices were mixed, with silver falling 0.3% to $80.26 per ounce and platinum rising 1.8% to $2,064.22 per ounce.#donald_trump #strait_of_hormuz #federal_reserve #iran_conflict #jerome_powell

Fed Chair Jerome Powell Subpoenas Blocked by Judge A federal judge has ruled to block subpoenas issued to the Federal Reserve as part of a criminal investigation into its chair, Jerome Powell, by prosecutors in the U.S. Attorney’s office for Washington, D.C., Jeanine Pirro. The court filing, disclosed on Friday, revealed that the judge’s decision prevents the prosecutors from compelling the Fed to provide documents or testimony related to the probe. The case centers on allegations tied to Powell’s involvement in costly renovations of the Federal Reserve’s headquarters and his testimony before the Senate Banking Committee regarding the project. Pirro is scheduled to provide an update on the investigation during a public statement on Friday afternoon. The timing of her announcement coincides with ongoing political tensions, as Senator Thom Tillis, R-N.C., has reiterated his opposition to confirming Kevin Warsh, President Donald Trump’s nominee to replace Powell as Fed chair. Tillis has stated he will not lift his block on Warsh’s nomination until the investigation of Powell is fully resolved. This legislative stalemate highlights the intersection of legal scrutiny and political maneuvering in the Federal Reserve’s leadership. Powell himself confirmed he became aware of the investigation by Pirro’s office, though he has not disclosed specific details about the allegations. The probe has drawn significant attention due to its potential implications for both the Fed’s independence and the broader economic policy landscape. Meanwhile, the legal battle over subpoenas underscores the challenges faced by prosecutors in accessing sensitive financial information, even as they navigate judicial oversight and political pressures.#federal_reserve #jeanine_pirro #jerome_powell #senate_banking_committee #thom_tillis

Federal Judge Dismisses Subpoenas Targeting Fed Chair Jerome Powell A federal judge has ruled that the Department of Justice’s subpoenas directed at Federal Reserve Chair Jerome Powell should be dismissed, according to a court filing unsealed on Friday. The decision, issued by Judge James Boasberg, the chief judge of the U.S. District Court for Washington, D.C., criticized the Trump administration for using the criminal investigation as a tool to pressure Powell into altering monetary policy. The judge’s opinion described the subpoenas as an attempt to coerce Powell, the head of the world’s most influential central bank, into lowering interest rates to align with the administration’s economic agenda. Boasberg accused the government of failing to present any evidence that Powell had committed a crime, stating that the sole purpose of the subpoenas was to “harass and pressure” Powell to either comply with the president’s demands or resign to make way for a more favorable Fed chair. In his ruling, Boasberg emphasized that the DOJ had provided “no evidence whatsoever” that Powell had engaged in any illegal activity beyond “displeasing the President.” The judge’s scathing language underscored his view that the investigation was politically motivated rather than grounded in legal merit. The Department of Justice has announced plans to appeal the decision, which could prolong the legal battle between the government and the Federal Reserve. This development also risks delaying the confirmation of Kevin Warsh, Trump’s nominee to lead the Fed, as the ongoing dispute casts uncertainty over the confirmation process. U.S. Attorney Jeanine Pirro, who represents the District of Columbia, condemned the ruling as “outrageous” and vowed to pursue an appeal.#department_of_justice #federal_reserve #jerome_powell #judge_james_boasberg #kevin_warsh

Stock market today: Live updates Stock futures remained flat Friday as investors awaited key U.S. inflation data, with traders closely watching oil prices and the ongoing Iran war. The report comes amid surging oil prices, which have continued to pressure stocks following Iran’s Supreme Leader Mojtaba Khamenei’s statement that the Strait of Hormuz should remain closed as a tool to pressure adversaries. Futures tied to the Dow Jones Industrial Average rose 29 points, or 0.1%, while S&P 500 and Nasdaq 100 futures were unchanged. Stocks were down after a losing session on Thursday, as oil prices spiked following Khamenei’s remarks. Chris Toomey, managing director at Morgan Stanley Private Wealth Management, highlighted the energy situation as a major concern, noting that sustained impairment of the Strait of Hormuz beyond two or three months could pose a significant risk. Rising crude prices and inflation fears have also dampened expectations for Federal Reserve interest rate cuts this year. Traders now anticipate only one cut in 2026, scheduled for December, according to the CME gauge. The Fed’s preferred inflation gauge, the January personal consumption expenditures price index, is due Friday, with the consensus expecting a 0.3% monthly increase and 2.9% annual rise in headline PCE. Core PCE, which excludes energy and food, is projected to rise 0.4% for the month and 3.1% year-over-year. European stocks opened lower as oil prices remained above $100 a barrel, with the Stoxx 600 down 0.9% in early London trading. Brent crude climbed to $102.36, driven by a U.S. waiver allowing Russian oil to transit at sea, aimed at mitigating fears of a supply shock in the Strait of Hormuz. Asia-Pacific markets also fell, with Australia’s S&P/ASX 200 down 0.#strait_of_hormuz #mujtaba_khamenei #chris_toomey #morgan_stanley_private_wealth_management #jerome_powell