Kim Vennell

Hi, I'm Kim Vennell in Whanganui, New Zealand.

It's Monday, January 12th.

Today, Jerome Powell says he's being threatened with a criminal indictment.

Trump mulls options for intervening in Iran as the death toll from protests there rises.

Homeland Security orders more officers into Minneapolis.

And stars hit the red carpet for this year's Golden Globes.

This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week.

We start with a significant escalation in US President Donald Trump's push for more control of the Federal Reserve and of interest rates.

Fed Chair Jerome Powell says US federal prosecutors have opened an inquiry into him and are threatening him with a criminal indictment about a building renovation project.

But in a video message, Powell says that's a pretext to

Fed reporter Howard Schneider has more on Powell's response.

Howard says the blowback has been swift.

Powell's term as Fed chair ends in three months, and his replacement, while chosen by Trump, must be approved by the Senate Banking Committee.

One of the key people to agree on the replacement is Republican Senator Tom Tillis, who is now speaking out.

And to hear how markets are reacting to the news, here's Mike Dolan from our sister markets podcast, Morning Bit.

Thanks, Mike.

You can hear Morning Bid wherever you get your podcasts.

President Trump says he's reviewing options to intervene in Iran and isn't ruling out using the military.

It's the starkest signal yet that the US may act as the death toll from anti-regime protests in Iran continues to rise.

A warning, some of the details of what's happening in Iran are disturbing.