Federal Reserve chair Jerome Powell. Photo: Bloomberg
Investors are still wrapping their heads around the latest escalation in the tussle between US President Donald Trump and the Federal Reserve, with Chair Jerome Powell fighting back against the effort to control the Fed and interest rates.
Growing unrest in Iran, where more than 500 people have been killed, according to a rights group, also underscored the geopolitical challenges markets are navigating at the start of 2026, keeping safe-haven assets well supported.