Major US lenders fall as Trump again criticizes Fed Chair Powell

ReutersApr 21, 2025 3:42 PM

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Shares of major Wall Street banks slip after U.S. President Donald Trump's latest criticism of Federal Reserve Chair Jerome Powell fans worries about the central bank's autonomy in setting monetary policy

JPMorgan Chase JPM.N, Goldman Sachs GS.N, Morgan Stanley MS.N, Bank of America BAC.N, Citigroup C.N and Wells Fargo WFC.N down 1% to 2.7%; Morgan Stanley leads the declines

Trump's comments also weighing on the broader markets .N

Adds to uncertainty over Fed's rate cut path during the year, especially when the economy is seen slowing down due to tariffs

S&P 500 Banks .SPXBK index is down 11.1% YTD

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