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President Donald Trump has asked the Supreme Court to allow him to fire Federal Reserve board member Lisa Cook, setting up a test of the president’s ability to take control of the powerful interest-rate setting body. The Justice Department on Thursday asked the high court to reverse the decisions of two lower courts that allowed Cook to remain in her position while the broader legal fight is underway. Their decisions enabled Cook to participate in a meeting this week that resulted in a quarter-point reduction in the interest rate. Trump’s incursion on the Federal Reserve is the culmination of his...

The Trump administration on Thursday asked the Supreme Court to lift lower court rulings that have blocked President Donald Trump from firing Federal Reserve Governor Lisa Cook. The request, which was expected, came after Cook participated this week in a meeting of the Fed’s Federal Open Market Committee, which decided to cut its benchmark overnight lending rate by a quarter percentage point. “This application involves yet another case of improper judicial interference with the President’s removal authority — here, interference with the President’s authority to remove members of the Federal Reserve Board of Governors for cause,” Solicitor General D. John...

WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market even as inflation is still in the air. In an 11-to-1 vote signaling less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its benchmark overnight lending rate by a quarter percentage point. The decision puts the overnight funds rate in a range between 4.00%-4.25%. Newly installed Governor Stephen Miran was the only policymaker voting against the quarter-point move, instead advocating...

The Federal Reserve announced a quarter-point interest rate cut, the first of 2025.The decision follows slowing job growth and rising inflation, challenging the Fed's dual mandate.Criticism from investors and political pressure influenced the Fed's decision to cut rates.

A federal appeals court has blocked President Trump from firing a member of the Federal Reserve's governing board, just ahead of a key vote on interest rates. On a two-to-one vote, the divided court upheld an earlier decision from a district judge who found that firing Lisa Cook would likely violate the Federal Reserve Act, which includes provisions designed to insulate the central bank from political pressure from the White House. The decision comes just days before the Fed's rate-setting committee is expected to vote to lower its benchmark interest rate for the first time this year. Trump has been...

Sept. 13 (UPI) -- Federal Reserve Gov. Lisa Cook described the Atlanta condominium she bought in 2021 as a second home, according to documents reviewed by The New York Times and The Washington Post. A filing from May 2021 listed the property's use as a "vacation home" and a December 2021 form she provided to the Biden administration called the condo a second home, the Washington Post reported. She submitted the December document after President Joe Biden nominated her to join the Federal Reserve's Board of Governors. A similar review by The New York Times reaches the same conclusions but...

WASHINGTON — Federal Reserve board member Lisa Cook should be banned from the central bank’s upcoming meeting later this month after a Trump official got her “dead to rights” on allegations of mortgage fraud, former Trump economic adviser Larry Kudlow told “Pod Force One.” “I mean, she doesn’t understand it, but she’s been fired,” Kudlow claimed to The Post’s Miranda Devine on the latest episode, out now. “…. She’s been fired for these allegations. The court doesn’t have to prove her guilty or not, by the way. If the president fires you, you’re fired. “The President appoints Federal Reserve governors,”...

Not exactly the Guns Of August. More like a wet cap gun firing. The jobs report for August showed only 22k jobs added. U-3 unemployment rate rose to 4.3%. Total private jobs added was 38k while manufacturing jobs added was down -12k. Government jobs dropped -16k. Let’s see if The Fed drops the hammer on rates by 50 basis points.

On Monday, President Donald Trump moved to fire Lisa Cook, a Biden-nominated member of the Federal Reserve’s Board of Governors. He moved to fire Cook for “cause,” and that cause is clear enough: According to William Pulte, director of the Federal Housing Finance Agency, Cook allegedly committed mortgage fraud by lying about her principal place of residence for purposes of securing more favorable interest rates—and then failed to report her rental income from the properties, to boot. Trump’s move is the first time a president has ever tried to fire a Fed governor for cause, and Trump’s usual detractors have...

The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum. In one of his most consequential speeches, Powell suggested the labor market could benefit from lower rates, which the Fed has kept unchanged for eight straight months. “Downside risks to employment are rising,” Powell said in prepared remarks for his keynote speech at the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole, Wyoming. He said the possibility of Trump’s tariffs having...

As my sources told me, Miran is a rarity, a highly trained economist who knows all the jargon, has absorbed the peer studies, brings intellectual heft, and makes a logical-sounding case for Trump’s stunningly contrarian game plan. “To say the least, it’s a relatively small pool of PhD economists who are economic nationalists. That’s a blinding reality. But Steve is one,” says someone outside the administration who knows him.

In a rare Presidential visit to the Federal Reserve headquarters, President Donald Trump publicly pressed Fed Chair Jerome Powell to deliver sharp interest rate cuts while criticizing the central bank's $2.5 billion renovation project. What Happened: On Thursday, Trump once again pushed for a rate cut, saying, “I’d love him to lower interest rates,” while standing next to Powell during a tour of the Fed’s headquarters, which is currently under renovation, according to a Reuters report. This visit comes just days before the Fed's rate-setting committee meeting, where the central bank’s 19 policy-makers are widely expected to hold benchmark interest...

Despite ongoing pressure from President Donald Trump, Federal Reserve Chair Jerome Powell is expected to leave key interest rates unchanged, according to market projections and analysts. Powell is set to announce his decision today. Most data indicates the economy is in good shape, with a relatively low 4.1% unemployment rate and relatively subdued inflation. But in June, the economy began to show prices for apparel, appliances and toys beginning to accelerate, and forecasters suggested tariffs would be likely to continue to drive up consumer prices. In a twist, Powell said the Fed might have already cut interest rates had it...

The director of the Federal Housing Finance Agency has made the removal of the Fed chair his personal mission.At a meeting with House Republicans this month, President Trump waved a draft of a letter firing the Federal Reserve chair, Jerome H. Powell.The letter, which rattled Washington and global markets, was not written by Mr. Trump or his core economic advisers. Instead, it was drafted by Bill Pulte, the director of the Federal Housing Finance Agency, who has used his perch and his social media prowess to become the Trump administration’s loudest critic of Mr. Powell.The campaign against Mr. Powell has...

U.S. President Donald Trump will visit the Federal Reserve on Thursday, the White House said, escalating his pressure campaign against Chairman Jerome Powell. This is the first time in nearly two decades that an American president will be making an official trip to the central bank. American presidents have traditionally respected the independence of the Fed, which is insulated both in law and in practice from the political whims of elected officials. Trump’s visit is a remarkable symbolic move on that independence, bringing his drumbeat of criticism over Powell’s refusal to lower interest rates right to the chairman’s doorstep. The...

BREAKING: 🚨 Florida Congresswoman Anna Paulina Luna issues CRIMINAL REFERRAL to the Department of Justice on Fed Chair Jerome Powell.— E X X ➠A L E R T S (@ExxAlerts) July 21, 2025

There are several reasons why Jerome Powell should be fired or forced to resign:Powell pretends he cares about budget deficits and inflation, but the cost for the Federal Reserve building renovations surged $700 million past the initial budget, or almost 40%:The Federal Reserve has defended itself from White House criticism that ongoing, costly renovations at the central bank’s headquarters in Washington are the result of mismanagement.Last week, Russel Vought, the director of the White House’s Office of Management and Budget, said the Fed was turning its headquarters into a ‘palace.’ The cost of the renovation has risen to $2.5 billion,...

US Fed chair Jerome Powell is reportedly getting fired, Florida Congresswoman Anna Paulina Luna said on X (formerly Twitter). “Hearing Jerome Powell is getting fired! From a very serious source,” she said, adding, “I’m 99% sure firing is imminent.” The Trump-Powell tiff This comes amid Trump's repeated displeasure with Powell, which stems from the POTUS repeatedly urging the Fed to cut its key rate, which he says would save U.S. taxpayers billions of dollars on interest costs on the federal government’s massive debt, and boost the economy. The fight has threatened the Fed's traditional independence from politics, though, since the...

Fed Chairman Jerome Powell is considering resigning, according to Chairman of the Board of Fannie Mae and Freddie Mac, Bill Pulte. “I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom,” Pulte said. President Trump has been calling on Fed Chair Jerome Powell to resign. “”Too Late” should resign immediately!!!” Trump said on Truth Social last week.

Amid a major layoff being announced by US companies, a post has gone viral which shows that Microsoft, one of the 10 companies employing foreign labor, sought 14,181 H-1Bs. The post shared the H-1B requirements of other companies, including Amazon, NVIDIA, Cisco, Goldman Sachs, Oracle, Apple etc.