Wall Street’s relationship with the Trump administration is souring.

Bank executives warned the White House on Tuesday that President Donald Trump’s policies and the Justice Department’s investigation into Federal Reserve Chairman Jerome Powell could harm the economy. BNY CEO Robin Vince criticized attacks on the Fed’s independence, saying it could raise interest rates.

Tariffs to pressure Iran could raise prices in US

President Donald Trump has once again drawn his go-to diplomatic weapon — tariffs — to coerce the Iranian government to end its bloody crackdown on nationwide protests.

Trump said he is imposing a 25% tax on imports to the United States from countries that do business with Iran. The tariffs could create blowback for the United States, too, potentially raising the prices Americans pay for imports from Iranian trade partners such as Turkey and India and threatening an uneasy trade truce Trump reached last year with China.

Central bankers express solidarity with Fed chair

Central bankers from around the world have expressed full support for U.S. Federal Reserve Chair Jerome Powell.

This comes after President Donald Trump escalated his confrontation with the Fed by threatening criminal charges. The central bankers, including European Central Bank President Christine Lagarde, emphasized the importance of central bank independence for economic stability.

Trump visits Ford plant, defends his tariffs

President Donald Trump is defending his tariffs, using a major economic speech in Michigan to argue that they boost domestic manufacturing despite many Americans fears about rising prices.

On Tuesday, he visited the plant where Ford’s F-150 is built to highlight his policies. Trump argued that tariffs are paid by foreign nations, not U.S. consumers, despite economists saying otherwise.

Inflation cooled slightly, remains above target

Inflation declined a bit last month as prices for gas and used cars fell, a sign that cost pressures are slowly easing.

The Labor Department said Tuesday that consumer prices rose 0.3% in December from the prior month, the same as in November. Even as inflation has eased, the large price increases for necessities such as groceries, rent, and health care have left many American households feeling squeezed, turning “affordability” issues into high-profile political concerns.

Wall Street pulls back from its records

Wall Street pulled back from its records following a mixed start to the latest profit reporting season for big U.S. companies.

The S&P 500 fell 0.2% Tuesday from its all-time high. The Dow Jones Industrial Average dropped 398 points from its own record, while the Nasdaq composite slipped 0.1%.

Fewer Americans sign up for health insurance

Fewer Americans are signing up for Affordable Care Act health insurance plans this year.

New federal data shows a 3.5% drop in enrollment, with around 800,000 fewer people selecting plans compared to last year. This decline is linked to expiring subsidies and rising health expenses.

EPA will stop calculating health care savings

The Environmental Protection Agency says it will stop calculating the economic savings of health benefits from air pollution rules.

The change means the agency will focuses only on industry costs. It aligns with President Donald Trump’s business-friendly approach.