4 d. ago Federal Reserve governor will keep job for now despite Trump’s bid to remove her

Supreme court defers action on request to remove Lisa Cook from post, at least until it hears oral arguments on caseUS government shutdown – live updatesLisa Cook, the US Federal Reserve governor, will keep her job for now, despite Donald Trump’s extraordinary bid to remove her from the central bank’s board with immediate effect.The US supreme court deferred action on the Department of Justice’s request to allow the president to fire Cook, at least until it hears oral arguments on the case in January. Continue reading...

Politics

4 d. ago Supreme Court declines Trump’s request to immediately remove Lisa Cook from Federal Reserve board

Justices will revisit Trump’s request to remove Lisa Cook as a Federal Reserve governor in January

Politics

2 w. ago Why Trump’s attacks on the Fed’s independence are so dangerous | Steven Greenhouse

The Federal Reserve cut interest rates this week. But the aggressive action Trump seeks could dramatically backfireDonald Trump has once again taken a wrecking ball to the rule of law and long-standing norms as he seeks to fire Lisa Cook, the Federal Reserve governor, and pursue his unprecedented assault on the central bank’s independence. Just as he failed to understand the huge problems his tariffs would create, Trump fails to understand the serious damage his attacks on the Federal Reserve could cause.In April, Trump launched repeated attacks on the Fed, threatening to fire its chairman, Jerome Powell, and demanding it slash interest rates. Trump called Powell “a stupid guy” and said “Powell’s termination cannot come fast enough!” Trump ultimately chickened out on firing Powell after financial markets tumbled at the prospect, but he hasn’t stopped pressing the Fed to chop its rates – suggesting they should be below 1% – to spur the slowing economy. Although Trump keeps denying it...

Politics

2 w. ago Trump official confirmed to Fed board but court rejects Lisa Cook removal bid

Senate votes 48-27 to confirm Stephen Miran as Fed governor but court rules Cook may remain in placeSenate Republicans voted on Monday to confirm a senior Trump official to the Federal Reserve’s board of governors as the White House raced to strengthen the US president’s control over the central bank ahead of its latest meeting.Hours before Fed policymakers convene for their September decision on interest rates, the Senate voted 48 to 27 to confirm Stephen Miran – already chair of Donald Trump’s council of economic advisers – as a governor. Continue reading...

Politics

3 w. ago Federal Reserve Governor Lisa Cook confirms second home status amid Trump fraud claims

Cook sued the Trump administration to block her firing following a row with the US President

Politics

3 w. ago Fed Governor Lisa Cook claimed 2nd residence as 'vacation home,' undercutting Trump fraud claims

Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a “vacation home” in a loan estimate

Politics

3 w. ago Trump suffers blow in bid to fire Federal Reserve governor as judge rules Lisa Cook can stay during fight

Board member’s legal challenge to president’s attempted ouster supported by district court justice

Events

4 w. ago The ‘bizarre’ referral of the US housing finance agency chief to oust Lisa Cook

Former officials and experts say Bill Pulte’s request for inquiry into Fed governor’s alleged fraud is ‘unusual’The head of the Federal Housing Finance Agency embraced a highly unusual process to accuse Lisa Cook, a Federal Reserve governor, of committing mortgage fraud, former officials and experts have said. One former high-ranking official called the director’s involvement in a criminal referral “bizarre”.William Pulte, a businessman and major GOP donor whom Donald Trump appointed to head the powerful housing agency earlier this year, has accused Cook of committing mortgage fraud by misrepresenting her homes as a primary residence, potentially securing more favorable mortgage rates. The justice department formally opened a criminal investigation into whether Cook committed fraud and has issued subpoenas related to the transaction. Cook’s lawyers have called the discrepancies a “clerical error” and she has denied any wrongdoing. Continue reading...

Politics