Posted on 09/18/2025 4:39:59 AM PDT by fluorescence
Federal Reserve Chairman Jerome Powell declined Wednesday to comment on the ongoing legal battle between Federal Reserve Governor Lisa Cook and the Trump administration over her role at the central bank.
"I see it as a court case that it would be inappropriate for me to comment on," Powell said when asked at the conclusion of the two-day Federal Open Market Committee (FOMC) meeting.
The Federal Reserve has previously acknowledged the potential legal feud and wrote in an Aug. 26 statement that the Fed will "abide by any court decision."
On Tuesday, the Trump administration vowed to take its fight over Cook to the Supreme Court after a lower court blocked the president’s effort to dismiss her. The move was the latest in a string of attempts to dismiss her from the Fed board ahead of the FOMC rate-setting meeting.
At the heart of the legal fight are unsubstantiated allegations of mortgage fraud against Cook, raised by Bill Pulte, a Trump appointee to the agency overseeing Fannie Mae and Freddie Mac.
(Excerpt) Read more at foxbusiness.com ...
If “too late numbskull” Powell sides with Cook, he can later be cooked as an accessory to her legal actions.
This guy is a POS panty waste jerk. So, he lowers the rate a 1/4%. The says he’ll do it again twice more.
He’s the embodiment of the elite passive losers that have run this country of ours into the ground.
I hope Trump comes out and blasts him.
He should support Cook’s firing.
“At the heart of the legal fight are unsubstantiated allegations of mortgage fraud against Cook....”
Where do they get these losers to feed us the news?
The Federal Reserve needs operational reforms.
The rate banks pay and get on their reserves should be decided by a stock market like system.
The rate of money creation might be population-based monetary demand growth plus 2% for inflation.
Population-based monetary demand growth might be average yearly USA population growth 25-35 years ago to reflect the number of Americans in their prime buying years.
Another way of figuring good-reason monetary demand might be mortgage growth plus a percentage of Social Security system revenue.
The Trump Organization almost certainly has massive mortgages, and Donald Trump would have no reason to suspect otherwise. Donald Trump has a conflict of interest in appointing Federal Reserve governors.
The Federal Reserve should only be able to lend out money:
1. at premium rates that grow over time, and
2. only to financially sound banks and governments.
Interest rates should normally be set by market systems.
A variant of “I cannot comment on an on-going investigation. “
A few people shouldn’t be able to decide to cut the interest incomes of tens of millions of old folks.
My mom got about one-third of her retirement income from CD interest.
Go with the market.
Open a Schwab account and go with JEPI. Get dividends monthly.
Your welcome.
The first meaning of unsubstantiated is "unproven or unverified". The second meaning is "being without form or substance".
You KNOW the author wanted you to read the second meaning.
“I see it as a court case that it would be inappropriate for me to comment on,” Powell said when asked at the conclusion of the two-day Federal Open Market Committee (FOMC) meeting.
Does that mean you asked Lisa Cook to resign, and she told the “Old White Male” Fed Chairman to “Get Stuffed?”
Seems to me that the Fed Chairman can look at the documents, and draw a simple conclusion of “Fraud.” It might be considered ‘common’ these days, but it should be disqualifying for a banker or economist seeking appointment to the Fed.
Also, makes you wonder about the Democrat congressional committee that rubber stamped her appointment.
There is now another issue with Letitia James. It has to do with rent control . too convoluted for me to attempt to explain . Pretty serious.
Powell is saying loudly and clearly that character, honesty and integrity are not now requirements to serve on the FED.
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