Trump Administration Subpoenas Federal Reserve; Iran Protests Continue

Federal Reserve Under Pressure

• 🏛️ Federal Reserve Chair Jerome Powell announced the central bank received grand jury subpoenas from the Justice Department, threatening a criminal indictment.
• ⚠️ Powell stated this action is an escalation of the Trump administration's threats and ongoing pressure, potentially aimed at undermining Fed independence.
• 📉 The dollar, treasuries, and US equity futures are sliding amid market sentiment of increased political influence on the Fed's rate stance.
• 💰 Bill Py, Federal Housing Finance Agency Director, is reported as a driving force behind the subpoenas, having previously investigated Trump's perceived foes.
• ⚖️ Republican Senator Tom Tillis has vowed to oppose any Fed nominee confirmation until this legal matter is resolved.

Geopolitical Tensions and Protests

• 🇮🇷 Iran's Foreign Minister claims security forces have "full control" after two weeks of protests, accusing the US and Israel of fomenting unrest.
• 📈 Activists report at least 540 people killed and over 10,000 arrested during the protests, which erupted after a currency collapse.
• 🇺🇸 President Trump is closely monitoring the situation in Iran and considering potential military options.
• 🇩🇰 Top diplomats from Denmark and Greenland will meet US Secretary of State Marco Rubio to address President Trump's renewed focus on Greenland.
• 🌍 President Trump stated that if the US does not acquire Greenland, Russia or China will, emphasizing its strategic importance.

Other Developments

• 🏥 Approximately 16,000 nurses in New York City hospitals are on the verge of striking, potentially becoming the largest nurses' strike in city history.
• 🏈 In NFL playoffs, the Bills defeated the Jaguars 27-24, the 49ers beat the Eagles 23-19, and the Patriots won against the Chargers 16-3.
• 🎬 Paul Thomas Anderson's "Licorice Pizza" and the drama "Hamnet" received top honors at the 83rd Golden Globes.