Jerome Powell's public response to a DoJ investigation could be a seismic moment for Donald Trump's presidency.

The watchdog said it had received reports of the platform's Grok AI chatbot creating undressed images of people.

Jerome Powell said he believed the investigation was due to Donald Trump's anger over the Fed's refusal to cut interest rates.

Competition among lenders in the UK suggests that rates could be cut in the coming weeks.

The US president has called for interest rates on credit cards to be capped at 10% for one year.