–The euro rallied a bit during the trading session on Thursday as we continued to see a lot of back and forth noise.– All things being equal, this is a market that seems to be stuck in a range, which is interesting considering that“ everybody knows” that the Federal Reserve is going to be cutting interest rates in September.– This should, in theory, be very negative for the US…
Economic News
On Friday, August 29, 2025, Congressman Al Green, the top Democrat on the U.S. House Financial Services Committee's Subcommittee on Oversight and Investigations, which oversees the Federal Reserve System, will hold a press conference. Dr. Cook was appointed to the Fed's Board of Governors by President Biden in 2022 and reappointed in 2023 for a term ending in 2038.
If you have a checking or savings account, a mortgage, a credit card, a car loan or educational loan, for instance, Federal Reserve actions can affect the interest rates or fees you pay. Matuschka Lindo Briggs, senior vice president and regional executive of the Little Rock Branch of the Federal Reserve Bank of St. Louis, will present "An Overview of the Federal Reserve"…
Trump’ s allegations of mortgage fraud against Ms. Cook are“ unsubstantiated.”. Mr. Lowell, in the suit, argued the Federal Reserve Act explicitly required a showing of“ cause” to remove a Fed governor,“ which an unsubstantiated allegation about private mortgage applications submitted by Governor Cook prior to her Senate confirmation is not.”. Mr. Trump fired Ms. Cook…
U.S. Senator Marsha Blackburn joined Senator Rand Paul and several of their Senate colleagues in introducing the Federal Reserve Transparency Act, famously known as "Audit the Fed" legislation, to require a full audit of the Federal Reserve's operations and increase congressional oversight of its decision-making:. Throughout my service in Congress, I have…
Congressman Barr joins Cheryl Casone on Mornings with Maria on Thursday, August 28. Washington, D.C. Today, U.S. Congressman Andy Barr, Chairman of the House Financial Services Subcommittee on Financial Institutions, the first House GOP member to publicly support President Trumps firing of former Federal Reserve Governor Lisa Cook, doubled down on his praise…
White House press secretary Karoline Leavitt announced the president’ s planned speech to the annual gathering of global leaders at the start of her Thursday news briefing. The United States will not take part in an upcoming council review of its human rights record scheduled for November, wrote Tressa Finerty, the U.S. charge d’ affaires in Geneva, in a letter to…
A Federal Reserve governor accused of mortgage fraud filed a lawsuit Thursday alleging her firing was "unprecedented and illegal." Trump fired Federal Reserve Governor Lisa Cook, appointed by President Joe Biden, on Monday after Federal Housing Finance Agency Director William Pulte alleged she committed mortgage fraud. "The operational independence of the…
-President Trump announced his intention to fire Federal Reserve Governor Lisa Cook, accusing her of mortgage fraud, in a move that could challenge the independence of the central bank. This unprecedented attempt to remove a Federal Reserve governor comes as the President seeks greater control over the central bank, which is responsible for setting interest…
Hours later, US President Donald Trump called the numbers“ phony” and fired the head of the agency, Erika McEntarfer. It was an unprecedented attack on the government’ s impartial statistics body, the Bureau of Labor Statistics. He claimed in a social post he had fired one of the governors of the US central bank, the Federal Reserve.
“The President’ s effort to terminate a Senate- confirmed Federal Reserve Board member is a broadside attack on the century-old independence of the Federal Reserve System,” Cook's lawyer, Abbe David Lowell, wrote in a court filing. The case could become a turning point for the 112- year old Federal Reserve, which was designed by Congress to be insulated from…
It's not hard to find mistakes in the Federal Reserve's recent history, but Donald Trump's latest attempt to erode the institution's independence is dangerous. On Monday night, Trump announced that he would try to fire Fed governor Lisa Cook, whose term otherwise expires in 2038. Yet the Fed, the justices wrote in May, is "a uniquely structured, quasi-private…
One of the many criticisms the president has levied against the Federal Reserve is that high rates are making it too expensive for Americans to buy a home. If aff ordability is the goal, he should be pressing Republicans in Congress to pass a new piece of bipartisan legislation that would do more to address the problem. Traditionally, the help Congress has off ered…
It's not hard to find mistakes in the Federal Reserve's recent history, but Donald Trump's latest attempt to erode the institution's independence is dangerous. On Monday night, Trump announced that he would try to fire Fed governor Lisa Cook, whose term otherwise expires in 2038. Yet the Fed, the justices wrote in May, is "a uniquely structured, quasi-private…
Federal Reserve Chairman Jerome Powell indicated more clearly than in the past that a cut in interest rates is likely at the September meeting of the Federal Reserve Board Open Market Committee. These conferences began in 1978, the initiative of the Federal Reserve Bank of Kansas City, one of nine regional banks in the Federal Reserve System.
This is what The Washington Post had to say recently on the precedent of politicizing the Federal Reserve:. It's not hard to find mistakes in the Federal Reserve's recent history, but Donald Trump's latest attempt to erode the institution's independence is dangerous. On Monday night, Trump announced that he would try to fire Fed governor Lisa Cook, whose term…
President Trump's move to fire Federal Reserve board of governors member Lisa Cook raised a host of questions over the unprecedented nature of his decision. Chief among them is whether the allegations he cited reach the standard of cause needed to oust her— and to win that fight legally. The president alleged Cook committed mortgage fraud by listing two…
The following information was released by Vermont Senator Peter Welch:. U.S. Senator Peter Welch released the following reaction to President Trump's illegal attempt to fire Federal Reserve Governor Lisa Cook:. "President Trump's unlawful attempt to fire Fed Governor Lisa Cook is an attack on the independence of our central bank.
One of the many criticisms the president has levied against the Federal Reserve is that high rates are making it too expensive for Americans to buy a home. In fact, if affordability is the goal, he should be pressing Republicans in Congress to pass a new piece of bipartisan legislation that would do more to address the problem. Traditionally, the help Congress has…
