Caroline Hepker

Those are the markets.

I'm Caroline Hepka and this is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Caroline Hepker.

The Federal Reserve has been served with grand jury subpoenas from the US Justice Department.

Fed Chair Jerome Powell says the court orders threatened criminal charges related to his testimony about the renovation of the central bank's headquarters.

In a forceful video statement, Powell said that the legal move was designed to exert pressure on the Fed to lower interest rates.

Fed Chair Jerome Powell, who went on to say that the legal action sets the stage for a battle over whether monetary policy will be based on economic data or directed by political pressure and intimidation.

In a brief interview with NBC News on Sunday night, President Trump denied knowledge of the U.S.

Justice Department's investigation into the central bank.

The president said that he believes Powell is, quote, certainly not very good at the Fed and he's not very good at building buildings.

Bloomberg has learned that a group of European countries, including Germany and the UK, are discussing plans for a military presence in Greenland to show the US president they are serious about Arctic security.

But on Sunday night, Donald Trump insisted that ownership of the island was the key issue.

The US president added NATO countries need America more than it needs them.

For now, Denmark is still hoping a diplomatic trip to Washington this week can calm Trump.

Rasmus Jarlov, who chairs the Danish Parliament's Defence Committee, says the American plans don't work for Greenlanders.

Yalov added that the door is open for more military bases and always has been.

The standoff is likely to come up when EU and US officials meet in Washington for G7 talks later this week.

The gender pay gap on the boards of European financial services firms has widened to its worst level in six years.

According to data compiled by EY, female non-executive directors at banks, insurers and asset managers in the region earned just 62% as much as men did in 2024.