President Donald Trump fired Federal Reserve Governor Lisa Cook late Monday, in a move viewed as a sharp escalation in his battle to exert greater control over the independent institution. The allegation was made last week by Bill Pulte, a Trump appointee to the Federal Housing Administration, an agency that regulates mortgage giants Fannie Mae and Freddie…
Economic News
WATAUGA— Beef prices across the United States have hit record highs, and producers in Watauga County are feeling the strain of a shrinking national cattle herd, rising costs and mounting development pressures. Data from the Federal Reserve Bank of St. Louis shows that ground beef prices, which held steady between $3.55 and $4.20 per pound from 2015 to 2019, have…
Federal Reserve Governor Lisa Cook responded to calls by President Donald Trump for her to resign, saying she won't step down despite allegations of mortgage fraud made by the Federal Housing leader. Cook responded to Trump's demand that she resign following allegations of fraud made by Federal Housing Finance Agency Director William Pulte on X, adding in a…
—Wall Street fell to a fifth straight loss on Thursday, hurt by a drop for Walmart and dampened hopes for coming cuts to interest rates. The moves were stronger in the bond market, where Treasury yields rose after a report forced Wall Street to scale back hopes that the Federal Reserve may soon deliver relief by cutting interest rates. Taken all together, such data…
In mid-summer, employment statistics began to hint at a weakening in the economy, and with inflation apparently tepid, Washington started to press the Federal Reserve to lower interest rates. Claiming inflation was a nonevent, with the jobs data showing a possible slowing in the economy and company earnings beginning to decelerate in the latest reporting…
Federal Reserve officials, meeting in Washington last month, concluded that the combination of low unemployment and still-elevated inflation meant they should delay cutting interest rates, at least for now. Not all of them agreed, underscoring the challenge for Jerome H. Powell, the Fed's chair, to forge a consensus across policymakers at forthcoming…
"Instead of grasping for a pretext to intimidate or fire Mr. Powell, or other members of the Fed, Mr. Trump should push Congress to pass meaningful reform this fall." Today, U.S. Senator Elizabeth Warren, the Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, penned an op-ed for The Wall Street Journal where she lays out the case for meaningful Fed…
William Pulte, director of the U.S. Federal Housing Finance Agency, posted a letter to Attorney General Pam Bondi that accuses Ms. Cook of submitting mortgage documents in 2021 that list both a Michigan residence and a Georgia condominium as primary residences, even though the Atlanta domicile was then listed for rent. Mr. Pulte, a Fed critic and close ally to Mr….
For months, President Trump has hectored Federal Reserve Chair Jerome Powell to give borrowers better terms through lower rates, only to be rebuffed by central bankers who fear price increases from White House tariff policies. Investors will listen for hints when Mr. Powell addresses Fed policymakers at their annual conference this week in Jackson Hole,…
Federal Reserve officials, meeting in Washington last month, concluded that the combination of low unemployment and still-elevated inflation meant they should delay cutting interest rates, at least for now. Not all of them agreed, underscoring the challenge for Jerome H. Powell, the Fed's chair, to forge a consensus across policymakers at forthcoming…
Wall Street investors increased their bets that the Fed would cut rates at its next meeting Sept. 16-17 after that report was released, according to futures pricing. The Fed left its key interest rate unchanged last month at about 4.3%, though two members of its governing board dissented in favor of a rate cut. Both dissenters— Christopher Waller and Michelle…
President Donald Trump demanded Wednesday that Federal Reserve Governor Lisa Cook resign after the Federal Housing boss accused her of mortgage fraud. His post followed a criminal referral issued by U.S. Director of Federal Housing Bill Pulte to U.S. Attorney General Pam Bondi and U.S. Pardon Attorney Ed Martin on Friday. "Lisa Cook is cooked and should…
The following information was released by the Federal Reserve Bank of Boston:. A new working paper from Federal Reserve Bank of Boston, Chicago, and Dallas staff members examines how regulators are addressing the potential financial system vulnerabilities inherent with a growing dependence on tech-focused third-party service providers.
President Trump Wednesday called on Federal Reserve governor Lisa Cook to step down over claims of "mortgage fraud" as he presses his feud over economic policy with the central bank. Trump cited a letter from Federal Housing Finance Agency head Bill Pulte that encouraged Attorney General Pam Bondi to investigate Cook over unsubstantiated claims of fraud…
The following information was released by the Federal Reserve Board:. Vice Chair for Supervision Michelle W. Bowman. At the Wyoming Blockchain Symposium 2025, Teton Village, Wyoming.
—President Donald Trump on Wednesday called on Federal Reserve governor Lisa Cook to resign after a member of his administration accused Cook of committing mortgage fraud, the latest example of the Trump administration's efforts to gain control over the central bank. Bill Pulte, director of the agency that oversees mortgage giants Fannie Mae and Freddie Mac,…
The overall index for Creighton University's Rural Mainstreet survey in July slipped to 50.6 from June’ s 51.9, though it was only the second time since July- August 2023 that it was above growth-neutral for two straight months. “Until ag commodity prices move to above breakeven, especially for corn and soybeans, I will continue in my bearish outlook for our 100%…
Intercontinental Exchange, a leading global provider of technology and data, announced that the application and rulebook of ICE Clear Credit to expand its current registered clearing agency designation to add U.S. Treasury clearing has been published by the U.S. Securities and Exchange Commission. Subject to regulatory approval, ICE Clear Credit plans to…
Mr. Bessent said he will begin vetting 11 candidates in September as President Trump tussles with the central bank over interest rates and looks toward the expiration of Mr. Mr. Bessent did not disclose names, though some have been bandied about, including Fed Governors Michelle Bowman and Christopher Waller, and former Fed Governor Kevin Warsh, Dallas Fed…
