48 h. 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

51 h. 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

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

1 week ago Trump’s Fed pick doubles down on calls to aggressively cut interest rates

Stephen Miran says rates should be below 3% by end of year and dismisses fears of US president’s tariffs stoking inflationStephen Miran, Donald Trump’s new appointee on the Federal Reserve’s interest-rate-setting board, has doubled down on his calls for the central bank to more aggressively cut interest rates.Last week, the Fed cut interest rates by a quarter point, bringing rates down to a range of 4% to 4.25% – the lowest it’s been since early 2023. Out of 12 voting board members, Miran was the only one to vote against the crowd. He wanted a half-point cut, not a quarter-point cut. Continue reading...

Politics

1 week 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

1 week ago Attorney investigating Trump critics resigns after pressure from officials – US politics live

Trump said ‘I want him out’ about Erik Siebert, who was investigating New York attorney general Letitia James and former FBI director James ComeyToday, lawmakers in the House will vote on legislation, known as a “continuing resolution” (CR), to prevent a looming government shutdown at the end of September.The bill, introduced by Republicans, would fund the government until 21 November. According to Politico, House GOP whip Tom Emmer was confident, as of Thursday, that his party had enough votes. “We’re going to pass this,” he said in an interview. Continue reading...

Politics

2 w. ago Trump touts ‘productive’ call with Xi and says he plans to go to China next year – live

Trump says he and the Chinese president made progress on TikTok and trade; the two leaders will meet in South Korea at summit next monthToday, lawmakers in the House will vote on legislation, known as a “continuing resolution” (CR), to prevent a looming government shutdown at the end of September.The bill, introduced by Republicans, would fund the government until 21 November. According to Politico, House GOP whip Tom Emmer was confident, as of Thursday, that his party had enough votes. “We’re going to pass this,” he said in an interview. 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 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

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 Trump administration requests emergency ruling to remove Cook from Fed board

The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates

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

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

4 w. ago Justice Department probes mortgage fraud claims against Lisa Cook of Federal Reserve, AP source says

The Justice Department has issued subpoenas as part of an investigation into mortgage fraud allegations against Lisa Cook, who is fighting a Trump administration effort to remove her from her role as a Federal Reserve Governor

Society