Lisa Cook's "vacation home" claim could undercut Trump fraud claims
Lisa Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors.
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Lisa Cook sued the Trump administration to block her firing, the first time a president has sought to remove a member of the seven-person board of governors.
The Consumer Price Index is now at 2.9%, up a 0.4% from the previous month.
Federal Reserve Governor Lisa Cook filed suit against President Trump, Chair Jerome Powell and the Fed's Board of Governors on Thursday, asking a federal judge to block the president's attempt to fire her from the central bank.
President Trump said Monday he has fired Lisa Cook from the Federal Reserve's Board of Governors. Her attorney countered that they plan to file a lawsuit challenging the move.
President Trump continues to raise the stakes in his crime crackdown, held a public cabinet meeting in front of cameras, and is trying to fire Federal Reserve Gov. Lisa Cook Tuesday.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
Investors are closely watching the Federal Reserve as it meets in Washington, D.C., to announce what's next for interest rates. President Trump is pushing the board to reduce rates.
The battle came as the president sparred with the head of the federal reserve in a rare presidential visit to their headquarters.
The House will soon take up the package of spending cuts narrowly approved by the Senate overnight, that slashes previously approved funding for foreign aid as well as PBS and NPR. Lawmakers are also reacting to President Trump's latest comments on whether he'll try to oust Federal Reserve Chair Jerome Powell, whom he has repeatedly criticized for not lowering interest rates.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.
The Federal Reserve kept its key interest rate unchanged at its May meeting on Wednesday, brushing off President Trump’s demands to lower borrowing costs.
Stocks suffered their worst crisis since COVID in March 2020, as the Dow Jones plunged more than 2,200 points on Friday, over concerns about the fallout from President Trump’s tariffs. The NASDAQ and S&P lost nearly 6 percent. Posting on social media as he went golfing, the president called this “a great time to get rich.” But in a rare move, President Trump is calling on the Federal Reserve to cut interest rates. Fed chairman Jerome Powell warned on Friday that tariffs could do long-term harm to the economy.
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
The Federal Reserve opted to leave its benchmark interest rate unchanged in its first policy meeting since President Trump's inauguration.
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025.
On Thursday afternoon, the Federal Reserve decided to institute the second cut the interest rate of the year.
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.
The Fed's decision will lower borrowing costs from a 23-year high as the central bank pivots to shoring up economic growth.
The decision could help people trying to borrow money for a home or a car. But as Bradley Blackburn reports, it might take a while to feel the effects.
The 142,000 jobs added in August is fewer than the expected 160,000. It's also the 44th consecutive month of job growth.
Inflation-weary consumers have also been slammed by high borrowing costs, but the Fed is cautious about sticky inflation.
Inflation is moving sideways, remaining above 3% for the first three months of 2024. Here's how that could impact your finances.
One Fed official on Thursday said if the economy continues to demonstrate strength, "Why would we cut rates?"
