Good morning from the Financial Times. Today is Monday, January 26th, and this is your FT News briefing.

U.S. President Donald Trump's immigration crackdown faces a growing backlash after federal agents killed a man in Minneapolis this weekend.

Plus, we could find out this week who's on deck to lead the Federal Reserve, and the

U.S. government is poised to announce its largest investment in the rare earth sector.

But Washington's continued foray into private industry has some business leaders wary.

The main concern is that Trump is picking winners and losers, and it doesn't

really work well with kind of a traditionally capitalist society, as the U.S. is known for.

I'm Victoria Craig, and here's the news you need to start your day. President Trump is under pressure over his immigration policies after the second person in two weeks was killed by federal agents in Minneapolis, Minnesota this weekend.

Protesters took to the streets

in some of the country's biggest cities, and some senior members of Trump's Republican Party

also expressed alarm over the killing of Alex Prettie, a 37-year-old intensive care nurse.

Video footage contradicted authorities' claims that he violently resisted attempts by border patrol agents to disarm him.

On Sunday, federal officials maintained that Peretti threatened agents with a gun.

Democrats, meanwhile, are warning about a potential government shutdown as soon as next week in response to the killing.

Senate Democrats said they would block a key funding package if it included financing

for the agency that oversees the immigration enforcement agency. In an unusually pointed

intervention, former President Barack Obama said the shooting was, quote, a wake-up call to every

American, that the nation's core values are increasingly under assault.

Thank you. that the nation's core values are increasingly under assault. U.S. President Donald Trump says he's decided who he wants to lead the Federal Reserve when

Jerome Powell's term ends in May. We just don't know who that is yet. Four men are jockeying for the top spot at the U.S.

Central Bank, and an announcement on a final decision could come this week. Claire Jones, our U.S.

economics editor, is here to tell us how the horse race is shaping up. Hi, Claire. Hi, Victoria.

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