Jerome Powell and the Federal Reserve abandon their cautious approach to confront Trump's intensified attacks, risking the central bank's independence. Read more at straitstimes.com. Read more at straitstimes.com.

The Justice Department’s decision to open up a criminal investigation of Jerome H. Powell, the chair of the Federal Reserve, is a major escalation in the pressure campaign against the central bank to cut interest rates.

Jerome Powell wanted to avoid a fight. That had long been his approach to handling President Donald Trump and his relentless attacks on the Federal Reserve, which in his second term had taken on heightened intensity.