FLORHAM PARK, N.J. (AP) — New York Jets quarterback Justin Fields has a dislocated toe on his right foot and will be evaluated by the team on a daily basis.
The team announced the diagnosis a few hours after Fields limped off the practice field Thursday morning and was carted into the facility. It eased some initial concerns that the quarterback, in his first season with the Jets, could miss significant practice time.
Fields threw an incomplete pass to Jeremy Ruckert on his fifth play of team drills when he went down. The quarterback sat on the grass for a few moments before getting up and limping to the sideline while helped by a trainer.
“I know it was a quick throw, so I’m assuming someone stepped on his toe,” coach Aaron Glenn said after the Jets’ second practice of training camp. “It had to be because of the nature of the call that we had as far as offensive play call. I want to look at the tape and be sure.”
Fields spent a few minutes in the injury tent on the sideline as trainers examined him before a cart came out to transport him into the facility. Fields sat in the passenger seat next to the driver in the cart and then got up under his own power before stepping inside to be further evaluated.
Glenn stopped the team period after Fields was hurt and the Jets ran special teams drills.
“When anybody goes down, there’s a lump in my throat,” Glenn said. “Listen, I hate injuries for any player, but the thing is I want to make sure that I understand exactly what the injury is before I move forward on my thought process.”
Fields signed a two-year, $40 million contract as a free agent in March after playing last season in Pittsburgh and is expected to be New York's starter this season. Veteran Tyrod Taylor, the team's oldest player who turns 36 next month, is the backup and replaced Fields in team drills.
“I think the most important part is, if anything does happen to Justin, I don’t think there’s any drop-off as far as what we want to do when it comes to play calls,” Glenn said. "Very similar when you talk about skill set, so that was like enticing for us. And then the leadership ability ... you could just tell the players really gravitate to him. When he says something, everybody really listens, even the coaching staff. He’s been around this league a long time. He knows what it takes to win, and he’s a really good person. So, we’re all excited to have that guy here.
“Listen, Justin is who he is and if something happens to him, we’ve got Tyrod and we’re ready to go.”
New York also has Adrian Martinez, the 2024 United Football League MVP, and rookie Brady Cook on its roster, but neither has thrown a pass in an NFL game. Glenn noted that Martinez was in camp with the Lions in 2023, so he has some familiarity with the offense that the Jets are running with Tanner Engstrand, Detroit's former passing game coordinator.
The news of Fields' injury sent Jets fans into a frenzy on social media, with many recalling how Aaron Rodgers' torn Achilles tendon in the team's opening game in 2023 sunk their Super Bowl hopes and how Zach Wilson missed time early in the 2022 season with a knee injury.
Glenn urged fans to remain calm because “I've been there and done that” — referring to how he adjusted to various injuries in Detroit last season as the Lions' defensive coordinator — and it's still early in training camp.
“I understand how this league is and I understand how social media starts to take over and everybody starts to panic,” Glenn said. “The one thing I would say is, listen, we have a number of men in that locker room that want to win. And we have a number of men in the locker room that’s learning how to win and it’s my job to make sure that I push that over the edge. And that’s my plan.”
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New York Jets quarterback Justin Fields (7) throws a pass during drills at the NFL football team's training camp Thursday, July 24, 2025, in Florham Park, N.J. (AP Photo/Frank Franklin II)
New York Jets quarterback Justin Fields (7) warms up with teammates at the NFL football team's training camp Thursday, July 24, 2025, in Florham Park, N.J. (AP Photo/Frank Franklin II)
New York Jets quarterback Justin Fields (7) throws a pass during drills at the NFL football team's training camp Thursday, July 24, 2025, in Florham Park, N.J. (AP Photo/Frank Franklin II)
NEW YORK (AP) — Up until this week, Wall Street has generally benefited from the Trump administration’s policies and has been supportive of the president. That relationship has suddenly soured.
When President Donald Trump signed the One Big Beautiful Bill into law in July, it pushed another significant round of tax cuts and also cut the budget of the Consumer Financial Protection Bureau, at times the banking industry's nemesis, by nearly half. Trump’s bank regulators have also been pushing a deregulatory agenda that both banks and large corporations have embraced.
But now the president has proposed a one-year, 10% cap on the interest rate on credit cards, a lucrative business for many financial institutions, and his Department of Justice has launched an investigation into Federal Reserve Chair Jerome Powell that many say threatens the institution that is supposed to set interest rates free of political interference.
Bank CEOs warned the White House on Tuesday that Trump’s actions will do more harm than good to the American economy. But in response, Trump did not back down on his proposals or attacks on the Fed.
BNY Chief Executive Officer Robin Vince told reporters that going after the Fed’s independence “doesn’t seem, to us, to be accomplishing the administration’s primary objectives for things like affordability, reducing the cost of borrowing, reducing the cost of mortgages, reducing the cost of everyday living for Americans.”
“Let’s not shake the foundation of the bond market and potentially do something that could cause interest rates to actually get pushed up, because somehow there’s lack of confidence in the Fed’s independence,” Vince added.
The Federal Reserve’s independence is sacrosanct among the big banks. While banks may have wanted Powell and other Fed policymakers to move interest rates one way or another more quickly, they have generally understood why Powell has done what he's done.
“I don’t agree with everything the Fed has done. I do have enormous respect for Jay Powell, the man,” JPMorgan Chase CEO Jamie Dimon told reporters Tuesday.
Dimon's message did not seem to resonate with President Trump, who told journalists that Dimon is wrong in saying it’s not a great idea to chip away at the Federal Reserve’s independence by going after Chair Jerome Powell.
“Yeah, I think it’s fine what I’m doing,” Trump said Tuesday in response to a reporter’s question at Joint Base Andrews after returning from a day trip to Michigan. He called Powell “a bad Fed person” who has “done a bad job.”
Along with the attacks on the Fed, President Trump is going after the credit card industry. With “affordability” likely to be a key issue in this year’s midterm elections, Trump wants to lower costs for consumers and says he wants a 10% cap on credit card interest rates in place by Jan. 20. Whether he hopes to accomplish this by bullying the credit card industry into just capping interest rates voluntarily, or through some sort of executive action, is unclear.
The average interest rate on credit cards is between 19.65% and 21.5%, according to the Federal Reserve and other industry tracking sources. A cap of 10% would likely cost banks roughly $100 billion in lost revenue per year, researchers at Vanderbilt University found. Shares of credit card companies like American Express, JPMorgan, Citigroup, Capital One and others fell sharply Monday as investors worried about the potential hit to profits these banks may face if an interest rate cap were implemented.
In a call with reporters, JPMorgan’s Chief Financial Officer Jeffrey Barnum indicated the industry was willing to fight with all resources at its disposal to stop the Trump administration from capping those rates. JPMorgan is one of the nation's biggest credit card companies, with its customers collectively holding $239.4 billion in balances with the bank, and having major co-brand partnerships with companies such as United Airlines and Amazon. JPMorgan also recently acquired the Apple Card credit card portfolio from Goldman Sachs.
“Our belief is that actions like this will have the exact opposite consequence to what the administration wants in terms of helping consumers,” Barnum said. “Instead of lowering the price of credit, it will simply reduce the supply of credit, and that will be bad for everyone: consumers, the broader economy, and yes, for us, also.”
Even the major airline and hotel partners who partner with banks to issue their cards were also not pleased with the White House's push to cap interest rates.
“I think one of the big issues and challenges with (a potential cap) is the fact that it would actually restrict the lower end consumer from having access to any credit, not just what the interest rate they’re paying, which would upend the whole credit card industry,” said Ed Bastion, CEO of Delta Air Lines, to analysts on Tuesday. Delta has a major partnership with American Express, and its co-brand credit card brings in billions of dollars in revenue for Delta.
Trump seemed to double down on his attacks on the credit card industry overnight. In a post on his social media platform Truth Social, he said he endorsed a bill introduced by Sen. Roger Marshall, R-Kansas, that would likely cut into the revenue banks earn from merchants whenever they accept a credit card at point-of-sale.
“Everyone should support great Republican Senator Roger Marshall’s Credit Card Competition Act, in order to stop the out of control Swipe Fee ripoff,” Trump wrote.
Trump told reporters Tuesday that he was not going to back down the credit card interest rate issue.
“We should have lower rates. Jamie Dimon probably wants higher rates. Maybe he makes more money that way,” Trump said.
The comments from Wall Street are coming as the major banks report their quarterly results. JPMorgan, the nation’s largest consumer and investment bank, and The Bank of New York Mellon Corp., one of the world’s largest custodial banks, both reported their results Tuesday with Citigroup, Bank of America, Wells Fargo and others to report later this week.
President Donald Trump arrives at Joint Base Andrews, Tuesday, Jan. 13, 2026, in Joint Base Andrews, Md. (AP Photo/Evan Vucci)
FILE - Jamie Dimon, CEO of JPMorgan Chase, speaks at the America Business Forum, Thursday, Nov. 6, 2025, in Miami. (AP Photo/Rebecca Blackwell, file)
