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The Eddie Aikau Big Wave Invitational, a prestigious surfing contest held in Waimea Bay, Hawaii, has occurred only 11 times in 41 years, drawing over 50,000 spectators when it runs. Surfers must wait for rare conditions where wave faces reach at least 40 feet for the event to take place. Founded in 1984 to honor the legacy of Eddie Aikau, the contest showcases the bravery and skill of surfers, some of whom wait in cars or on the beach to secure their spots. The event has evolved to include female surfers, with the latest contest held in 2023 after several years of unsuitable conditions. The current holding period for the contest continues until March 6, 2026.

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On July 24, President Donald Trump visited the Federal Reserve, drawing attention to the ongoing $2.5-billion renovation of its headquarters and increasing pressure on Fed Chair Jerome Powell ahead of an upcoming meeting. WSJ White House reporter Meridith McGraw discussed the implications of this pressure for the Federal Reserve's decision-making. In related news, Walmart is implementing artificial intelligence agents to enhance its interactions with customers and suppliers. Additionally, UnitedHealth Group confirmed it is responding to probes by the Justice Department. The segment was hosted by Alex Ossola, and viewers are encouraged to sign up for the WSJ's free "What's News" newsletter.

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The "What's New" section of the Bank of Japan's webpage includes various statistical reports and research studies from December 2025 and January 2026. It features reports on the Call Money Market, Bank of Japan transactions with the government, and the monetary base, along with research on topics such as the Consumption Activity Index and output gap. Additionally, it highlights upcoming monetary policy meetings and speeches by senior officials addressing economic activity and monetary policy in Japan. The interest rate for the complementary deposit facility and the basic loan rate has been set at 0.75% and 1.0%, respectively, since December 22, 2025.

The Justice Department has initiated a criminal investigation into Jay Powell concerning the $2.5 billion renovation of the Federal Reserve's Washington headquarters. Powell announced on Sunday that the Federal Reserve received grand jury subpoenas and a potential criminal indictment from the Department of Justice. He characterized the legal actions as an attempt to undermine the Fed's independence in setting interest rates. The section also includes various public comments responding to the investigation, expressing a range of opinions on the matter.

Federal Reserve chair Jerome Powell has confirmed that he is under investigation by the Department of Justice (DOJ). He stated that the Fed received grand jury subpoenas related to his testimony before the Senate Banking Committee concerning historic building renovations from June. Powell suggested that the investigation is retaliation for his decisions on interest rates, which he claims prioritize public service over the preferences of the President.

The "News & Events" section of the Federal Reserve Board webpage includes the minutes from the Federal Open Market Committee meeting held on December 9-10, 2025, and discusses the Fed Listens initiative, which engages stakeholders to assess economic progress in the U.S. Notable press releases and speeches include Vice Chair for Supervision Michelle W. Bowman's remarks on modernizing supervision and regulation (January 7, 2026), as well as Chair Jerome H. Powell's opening remarks on George Shultz's economic contributions (December 1, 2025). Additionally, various testimonies by Chair Powell and Vice Chair Bowman on supervision, regulation, and the semiannual Monetary Policy Report to Congress are listed, with dates spanning from February 11, 2025, to June 24, 2025. Governor Michael S. Barr also gave welcoming remarks at the 2025 National College Fed Challenge Finals on November 21, 2025.

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Federal Reserve Chair Jerome Powell announced that the Department of Justice (DOJ) has issued subpoenas to the Fed and threatened criminal indictment related to his testimony on the Fed's $2.5 billion office building renovations. This action is seen as part of President Trump's ongoing criticism of the Fed for its interest rate policies. Powell emphasized that the DOJ's actions could undermine the Fed's independence in setting monetary policy. The DOJ stated it cannot comment on specific cases but highlighted the priority of investigating the misuse of taxpayer funds. Republican Senator Thom Tillis expressed his opposition to any future Fed nominees until the legal issues are resolved, raising concerns about the independence of both the Fed and the DOJ.