2026-01-12
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This is The World In Brief from The Economist.
Our Top Stories America's Justice Department opened a criminal investigation into Jerome Powell,
the chairman of the Federal Reserve.
Mr.
Powell said he had been served Grand Jury subpoenas and threatened with an indictment related to testimony he delivered to Congress in June about a renovation of the Fed's headquarters.
He said the unprecedented action was a pretext to reign in the central bank's independence.
Donald Trump has repeatedly criticised Mr.
Powell for not cutting interest rates.
The speaker of Iran's parliament said that American troops in Israel would become legitimate targets for retaliation
if Donald Trump orders military strikes over anti-government protests.
On Friday, America's president said that,
we'll be hitting them very hard if Iran starts killing protesters.