5 h. ago US justice department launches criminal probe into Fed’s Lisa Cook

Investigation marks an escalation in Trump administration’s efforts to remove the central bank governor

Society

5 h. 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

6 h. 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

56 h. ago Hundreds of economists sign open letter backing embattled Fed Governor Lisa Cook after Trump attacks

Notable and experienced economists warn elected officials that attacks on the Fed ‘undermine’ public confidence

Events

5 d. ago ‘Racist as hell’: Trump’s cabinet is almost all white, and he keeps firing Black officials

President’s targeting of Fed governor Lisa Cook highlights his efforts to remove diverse voices from governmentA day after Donald Trump announced that he was firing Lisa Cook, the first Black woman to serve on the board of governors of the Federal Reserve, the White House proudly released a photo. It showed Trump, his cabinet and other officials giving a thumbs-up. Of the 24 people in the Oval Office, only one was Black.For those who have studied the US president’s long and troubling history of racism, the two events were more than mere coincidence. They were indicative of a man who has recently brought white nationalist perspectives from the margins back to the mainstream. Continue reading...

Politics

6 d. ago US appeals court rules most of Trump’s sweeping global tariffs illegal – live

Ruling upholds decision from trade court while president attacks ‘Highly Partisan Appeals Court’ and says he will win tariff fightFull story: Most of Trump tariffs illegal, court findsA visit to Taiwan by two US senators has drawn criticism from China, which claims the island as its own and objects to any contact between officials of the two sides.The chair of the Senate armed services committee, Roger Wicker, and the Nebraska senator Deb Fischer arrived in Taipei on Friday for a series of high-level meetings with senior Taiwanese leaders to discuss US-Taiwan relations, regional security, trade and investment, according to the American Institute in Taiwan, Washington’s de facto embassy in lieu of formal diplomatic relations with the self-governing island democracy.A thriving democracy is never fully assured and we’re here to talk to our friends and allies in Taiwan about what we’re doing to enhance worldwide peace. Continue reading...

Events

6 d. ago Trump aide defends Robert F Kennedy Jr over CDC chaos, calling him ‘crown jewel of this administration’ – US politics live

Stephen Miller baselessly claims CDC experts ‘weren’t actually very knowledgable about public health’ as he defends health secretaryA visit to Taiwan by two US senators has drawn criticism from China, which claims the island as its own and objects to any contact between officials of the two sides.The chair of the Senate armed services committee, Roger Wicker, and the Nebraska senator Deb Fischer arrived in Taipei on Friday for a series of high-level meetings with senior Taiwanese leaders to discuss US-Taiwan relations, regional security, trade and investment, according to the American Institute in Taiwan, Washington’s de facto embassy in lieu of formal diplomatic relations with the self-governing island democracy.A thriving democracy is never fully assured and we’re here to talk to our friends and allies in Taiwan about what we’re doing to enhance worldwide peace. Continue reading...

Politics

6 d. ago The Guardian view on Trump and the Fed: independence is no substitute for accountability | Editorial

The US president’s move against Lisa Cook shows his despotic bent, but the Fed was never democracy’s guardian. It’s time to rethink who really controls moneyDonald Trump’s attempt to sack the Federal Reserve governor, Lisa Cook, is the familiar authoritarian trick of bending institutions to serve the leader’s immediate ends. The widespread condemnation is deserved. This is not some daring experiment in popular control of monetary policy. Yet what should follow censure is reflection. For the furore over Ms Cook has revealed a peculiar reflex: to defend the Fed’s independence as though it were synonymous with democracy itself.But is independence of the Fed, or central banks generally, really that? Eric Levitz at Vox thinks so, or at least that it is close enough. He argues that Congress sets the Fed’s objectives; independence applies only to the means. Without independence, politicians would be free to game rates for votes – as Richard Nixon did in 1972, leaning on the ...

Politics

6 d. ago Lawyer for Federal Reserve governor targeted by Trump says firing does ‘irreparable harm’ – US politics live

Lisa Cook’s attorney argues she should be allowed to carry on in her role until court makes ruling White House picks Kennedy deputy to replace fired CDC chiefA visit to Taiwan by two US senators has drawn criticism from China, which claims the island as its own and objects to any contact between officials of the two sides.The chair of the Senate armed services committee, Roger Wicker, and the Nebraska senator Deb Fischer arrived in Taipei on Friday for a series of high-level meetings with senior Taiwanese leaders to discuss US-Taiwan relations, regional security, trade and investment, according to the American Institute in Taiwan, Washington’s de facto embassy in lieu of formal diplomatic relations with the self-governing island democracy.A thriving democracy is never fully assured and we’re here to talk to our friends and allies in Taiwan about what we’re doing to enhance worldwide peace. Continue reading...

Politics

6 d. ago Trump urges judge to deny Lisa Cook’s appeal to remain at Fed

Federal court hears argument against US president’s firing of central bank governor

Politics

6 d. ago Backlash as White House chooses Robert F Kennedy Jr deputy to run CDC – US politics live

Senators’ fury at developments at US Centers for Disease Control and Prevention as Jim O’Neill picked to replace Susan MonarezWhite House picks Kennedy deputy to replace fired CDC chiefPatty Murray, the Washington senator, has called for the Trump administration to provide “immediate answers” about reports that two firefighters were detained by border agents as they were responding to a wildfire in the state.Federal immigration authorities on Wednesday staged an operation on the scene of the Bear Gulch fire, a nearly 9,000-acre (3,600-hectare) blaze in the Olympic national forest, where they arrested two people who were part of a contract firefighting crew, the Seattle Times first reported. The fire is the largest currently burning in the state. Continue reading...

Politics

7 d. ago Lisa Cook, the Federal Reserve governor battling Donald Trump

Economist’s legal showdown with the president will have sweeping implications for the US central bank

Politics

7 d. ago Federal Reserve Governor Lisa Cook sues Trump after he ‘fired’ her

Trump’s unprecedented move against the central bank's leadership is an effort to ‘undermine the independence of the Federal Reserve’, Cook’s lawyer said

Politics

8 d. ago Trump officials puts Fema staffers on leave for signing open letter criticizing administration – as it happened

This live coverage has ended. You can find all of the latest US politics stories hereLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Politics

9 d. ago Trump signals he has ‘somebody I like’ to replace Lisa Cook, as Fed governor sues over removal – live

President’s comment comes amid reporting that he wants to quickly nominate a replacement as Cook resists attempt to force her outLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Politics

9 d. ago Trump urges Democrats to ‘call him’ to send troops to their cities in apparent attempt to legitimize threats of federal takeovers – live

Despite criticism of repeated threats to take over police and send in National Guard, president claims Democratic leaders should demand takeoversLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Politics

9 d. ago ‘Zero self awareness’: Newsom trolls Trump deputy’s description of ‘crooks’ in government over Lisa Cook ouster

Trump’s ‘firing’ of Fed board governor scares Wall Street and sets up another protracted court battle

Politics

9 d. ago ‘Trump has no authority’: Lisa Cook’s lawyer vows to sue administration over attempted firing of Fed governor – live

Federal Reserve governor’s lawyer says Trump administration’s effort to fire her ‘lacks any factual or legal basis’Lisa Cook to sue Trump over attempt to fire herLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Society

9 d. ago Federal Reserve governor Lisa Cook to sue Trump administration over its attempt to fire her

Cook’s attorney said the president has ‘no authority’ and ‘lacks any factual or legal basis’ to fire the Fed governorThe Federal Reserve governor Lisa Cook will sue the Trump administration over its bid to fire her over unconfirmed allegations of mortgage fraud, her attorney has said.Donald Trump announced he was firing Cook on Monday night, in an extraordinary move that marks the latest escalation in the US president’s attack on the central bank’s independence. Continue reading...

Politics

9 d. ago Top Democrats fire back against Trump’s plan to remove Federal Reserve governor as Lisa Cook vows to not resign – live

Lisa Cook says ‘no cause exists under the law’ for Trump to remove her; president is accused of ‘cobbling together’ mortgage fraud allegations against herTrump moves to fire Fed governor Lisa CookLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Politics