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In the news today: Fed Chair Jerome Powell says the DOJ has served the central bank with subpoenas and threatened it with a criminal indictment; Trump says he is "inclined" to keep ExxonMobil out of Venezuela after its top executive was skeptical about oil investment efforts; and an upset win at the Golden Globes. Also, the comic book that introduced the world to Superman sells for $15 million. |
Federal Reserve Chairman Jerome Powell, right, and President Donald Trump look over a document of cost figures during a visit to the Federal Reserve, July 24, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson, File) |
Fed chair says DOJ has subpoenaed central bank, threatens criminal indictment
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Federal Reserve Chair Jerome Powell said Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed's building renovations. Read more. |
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The move represents an unprecedented escalation in President Donald Trump's battle with the Fed, an independent agency he has repeatedly attacked for not cutting its key interest rate as sharply as he prefers. The renewed fight will likely rattle financial markets Monday and could, over time, escalate borrowing costs for mortgages and other loans.
The subpoenas relate to Powell's testimony before the Senate Banking Committee in June, the Fed chair said, regarding the Fed's $2.5 billion renovation of two office buildings, a project that Trump has criticized as excessive. Powell issued a video statement in which he bluntly characterized the threat of criminal charges as simple "pretexts" to undermine the Fed's independence when it comes to setting interest rates.
In a brief interview with NBC News Sunday, Trump insisted he didn't know about the investigation into Powell. When asked if the investigation is intended to pressure Powell on rates, Trump said, "No. I wouldn't even think of doing it that way."
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Trump 'inclined' to keep ExxonMobil out of Venezuela after CEO response at White House meeting
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President Donald Trump said Sunday that he is "inclined" to keep ExxonMobil out of Venezuela after its top executive was skeptical about oil investment efforts in the country after the toppling of former President Nicolás Maduro. Read more. |
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During a meeting Friday with oil executives, Trump tried to assuage the concerns of the companies and said they would be dealing directly with the U.S., rather than the Venezuelan government. Some, however, weren't convinced.
"If we look at the commercial constructs and frameworks in place today in Venezuela, today it's uninvestable," said Darren Woods, CEO of ExxonMobil, the largest U.S. oil company. Getting U.S. oil companies to invest in Venezuela and help rebuild the country's infrastructure is a top priority of the Trump administration after Maduro's capture.
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'Hamnet' and 'One Battle After Another' take top honors at Golden Globes
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Paul Thomas Anderson's ragtag revolutionary saga "One Battle After Another" took top honors at Sunday's 83rd Golden Globes in the comedy category, while Chloé Zhao's Shakespeare drama "Hamnet" pulled off an upset over "Sinners" to win best film, drama. Read more. |
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Many of the Oscar favorites won. Timothee Chalamet won his first Golden Globe, for "Marty Supreme," after four previous nominations. The 30-year-old is poised to win his first Oscar.
Anderson became just the second filmmaker to sweep director, screenplay and film, as a producer, at the Globes.
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This photo shows Action Comics #1, Wednesday, in New York, a copy of a rare comic book that introduced the world to Superman which has been sold for a record $15 million. (Andrew Wilson/Metropolis Collectibles Inc. via AP) |
Rare copy of the comic book that introduced the world to Superman sells for $15 million
The private deal was announced Friday and eclipses the previous record price for a comic book, set last November when a copy of "Superman No. 1" was sold at auction for $9.12 million. The comic — which sold for 10 cents when it came out in 1938 — was also once stolen from the home of actor Nicolas Cage. It's an anthology of tales about mostly now little-known characters. |
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