Trump-Fed Fight Pushback, 25% Iran Partners Tariff, Grok AI's UK Backlash

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On today's podcast:

(1) President Donald Trump faced rare opposition from key Republican lawmakers after Federal Reserve Chair Jerome Powell accused the Department of Justice of launching a grand jury investigation to pressure and intimidate the central bank.

(2) President Donald Trump said he is imposing a 25% tariff on goods from countries “doing business” with Iran, ratcheting up pressure on the government in Tehran that has been rocked by widespread protests. 

(3) Japanese stocks extended their climb to record highs while the yen and government bonds slumped on speculation that Prime Minister Sanae Takaichi may soon call a snap election.

(4) UBS Chief Executive Officer Sergio Ermotti said the proposed new banking reforms in Switzerland go “too far” and that lender needs a competitive regulatory framework to grow. 

(5) Finance ministers from the Group of Seven nations, along with officials from other countries, met Monday in Washington to discuss a path forward to “address vulnerabilities in critical minerals supply chains,” the Treasury department said in a statement.

 
(6) UK Prime Minister Keir Starmer escalated his threats against Elon Musk’s X on Monday, vowing to enforce a law that banned the sexualization of people’s images without their consent and calling such content generated by Grok as “disgusting and shameful.

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