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UK.

Good morning from the Financial Times. Today is Tuesday, April 22nd, and this is your FT News briefing.

Markets are getting jittery about Jay Powell's job security, and the world is mourning the death of Pope Francis.

He took groups that felt that they had no home in the church and tried to make them feel more welcome.

Plus, European carmakers are taking a page out of the book of Chinese companies.

I'm Mark Filipino, and here's the news you need to start your day. U.S. President Donald Trump has been picking on Federal Reserve Chair Jay Powell for a while now,

but it looks like his threats finally spooked markets. The dollar sank yesterday and the S&P 500 fell as much as

three percent after Trump posted on social media about Powell. The president pressured the Fed

chair once again to cut interest rates to stimulate the economy. The Fed is waiting to lower

interest rates because of the potential inflationary effects of Trump's global trade war.

Now, this is all happening while there are growing concerns over the independence of the Fed.

Trump is even threatening to remove Powell from his position.

It's unclear whether he has the authority to do that, though.

Powell, for his part, said that he will not step down or be influenced by political pressure. His term is scheduled

to end next May. Pope Francis passed away on Monday morning at the age of 88. The Argentina-born

pontiff challenged lots of long-standing practices during his

12-year reign. For one thing, he was the first non-European to lead the church since the 8th century.

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