
Reuters World News Powell, Iran options, Minnesota and Golden Globes
Jan 12, 2026
Federal prosecutors are probing Jerome Powell, with possible criminal charges looming over his role at the Fed. Meanwhile, Trump is weighing military options amid escalating unrest in Iran, where protests are intensifying and an internet blackout is reported. In Minnesota, DHS plans to send more officers in response to recent violence. The Golden Globes celebrated films like 'One Battle After Another,' showcasing unexpected wins and memorable moments from the ceremony.
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Fed Chair Alleges Political Pressure
- Jerome Powell says prosecutors opened an inquiry to pressure him over Fed independence and interest rates.
- Powell frames the criminal threat as retaliation for not following President Trump's rate preferences.
Senator Pauses Fed Nomination Votes
- Senator Tom Tillis said the DOJ, not Powell, should be questioned and paused Fed nominations until resolved.
- Tillis portrayed Trump's actions as an attempt to destroy Federal Reserve independence.
Markets Move After Powell Inquiry
- Markets reacted quickly with a weaker dollar and lower US stock futures after the Powell news.
- Traders eyed US cash trading and big debt auctions as complicating factors for market moves.



