Morning Bid: 'Major loser' reporting for duty

April 22 (Reuters) - Morning Bid U.S.

What matters in U.S. and global markets today

By Amanda Cooper, EMEA Markets Breaking News Editor

It's no secret that U.S. President Donald Trump is not a fan of Federal Reserve Chair Jerome Powell, despite having appointed him to lead the U.S. central bank in 2018 during his first term in office.

But in the face of a cratering stock market, the destruction of investor confidence in U.S. assets and the increasing likelihood of recession - all unleashed by the chaotic rollout of his tariff policies - Trump is demanding the Federal Reserve cut interest rates and for heads to roll, specifically, Powell's.

Mike Dolan is enjoying some well-deserved time off this week, but the Reuters markets team is here to provide you with all the information you need to start your day.

Today's Market Minute

* Trump has kept up his verbal assault on Federal Reserve Chair Jerome Powell over the Fed's refusal for now to cut rates further, making investors increasingly fearful he could try to fire the U.S. central bank chief over the matter.

* Swiss pharmaceutical maker Roche says it will invest $50 billion in the United States over the next five years, creating more than 12,000 new jobs.

* Trump sat down with major retailers including Walmart, Home Depot, Lowe's and Target on Monday to discuss his tariff policies that could raise the prices of the goods on their shelves.

* Vietnam's trade ministry has issued a directive to crack down on illegal transhipment of goods to the United States and other trading partners as it tries to avoid steep U.S. tariffs, according to a document reviewed by Reuters.

* Retail investors in China are stepping in to "buy the dip" to defend their domestic stock market as their country's trade war with the United States heats up.

'Major loser' reporting for duty

Trump has opened fire on the Fed chief on his Truth Social platform, saying Powell's "termination cannot come soon enough" and calling him a "major loser".

Powell's stance is that rates should not fall until it is clear Trump...
[Short citation of 8% of the original article]