7 d. ago Lisa Cook urges supreme court to reject Trump’s bid to fire her from Fed board

Cook’s lawyers say president’s unprecedented move would destroy Fed’s independence and disrupt financial marketsFederal Reserve governor Lisa Cook urged the US supreme court on Thursday to reject Donald Trump’s attempt to fire her, telling the justices the Republican president’s unprecedented move would destroy the central bank’s independence and disrupt financial markets.Lawyers for Cook filed a written response opposing the justice department’s 18 September emergency request to lift a federal judge’s order that blocked Trump from immediately removing Cook, an appointee of Democratic former president Joe Biden, while her legal challenge continues. Continue reading...

Events

8 d. ago Greenspan, Bernanke and Yellen urge Supreme Court to let Lisa Cook keep her job as a Fed governor

Alan Greenspan, Ben Bernanke, Janet Yellen and other former top economic officials appointed by presidents of both parties are urging the Supreme Court to preserve the Federal Reserve’s political independence and allow Lisa Cook to remain as a central bank governor for now

Society

2 w. ago Trump asks Supreme Court to let him fire Fed governor Lisa Cook

A ruling by the US’s top court could lead to landmark decision on independence of the country’s central bank

Events

2 w. ago The Federal Reserve’s independence is about to be tested like never before

Donald Trump wants drastic rate cuts – and his campaign to exert greater political control over the Fed continues apaceThe time has come to ban the “revolving door” between the White House and the Federal Reserve, two academics argued last year. Doing so would be “critical to reducing the incentives for officials to act in the short-term political interests of the president”, they wrote.Eight months ago, the two writers – Dan Katz and Stephen Miran – joined the Trump administration in senior roles. On Tuesday, Miran, the chair of the US Council of Economic Advisers, walked into the Fed as a governor. Continue reading...

Politics

2 w. ago Court stops Trump’s attempt to fire Fed Board Governor Lisa Cook

Ruling allows Federal Reserve official to participate in key rate-setting meeting this week

Events

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

2 w. ago Fed governor Lisa Cook listed contested home as vacation property

Documents appear to contradict White House allegation that she committed mortgage fraud

Society

2 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 Lisa Cook to remain at Federal Reserve while fighting Trump’s attempt to fire her, judge rules

Agency governor is legally challenging Trump after he sought to remove her, citing unconfirmed mortgage fraud allegationsA federal judge has ruled that Federal Reserve board member Lisa Cook can stay in her post while suing Donald Trump over his unprecedented bid to fire her.Cook is legally challenging the US president after he sought to remove her, citing unconfirmed allegations of mortgage fraud, amid an extraordinary campaign by his administration to strengthen its control over the US central bank. Continue reading...

Events

3 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

4 w. ago US justice department opens criminal inquiry into Fed governor Lisa Cook

Officials to investigate claims of mortgage fraud against Cook, who has refused to accept firing by Donald TrumpThe US justice department has initiated a criminal investigation into mortgage fraud claims against Federal Reserve governor Lisa Cook as a lawsuit she filed against Donald Trump over her firing makes its way through court.Lawyers with the justice department have issued subpoenas for the investigation, according to the Wall Street Journal, who first reported the investigation, which has since been confirmed by multiple news publications. Continue reading...

Society

4 w. ago US justice department reportedly opens criminal inquiry into Fed governor Lisa Cook

Officials to investigate claims of mortgage fraud against Cook, who has refused to accept firing by Donald TrumpThe US justice department has initiated a criminal investigation into mortgage fraud claims against Federal Reserve governor Lisa Cook, according to new reports, as a lawsuit she filed against Donald Trump over her firing makes its way through court.Lawyers with the justice department have issued subpoenas for the investigation, according to the Wall Street Journal. Continue reading...

Society