The Associated Press WASHINGTON (AP) — The Supreme Court on June 29 dramatically expanded presidential power, upholding President Donald Trump’s firings of the heads of independent federal agencies with one important exception: the Federal Reserve. The justices allowed Fed governor Lisa Cook to stay in her job while she fights the Republican president’s effort to […]
Tag: Jerome Powell
Posted inCommentary
One woman’s refusal and the future of the Fed
By Eric Morrissette Recently, the Supreme Court heard arguments that could reshape the global financial system. The case before the justices asks a deceptively simple question: Can the President of the United States fire Dr. Lisa Cook, a member of the Federal Reserve Board of Governors, before the end of her statutory term? But everyone […]
Posted inNational News
Justice Department probes mortgage fraud claims against Lisa Cook of Federal Reserve, AP source says
The Justice Department has opened a mortgage fraud probe into Federal Reserve Governor Lisa Cook, who is also fighting the 47th president’s attempt to oust her from the Fed. Cook’s lawyers argue the investigation is politically motivated and part of a broader effort to undermine the central bank’s independence.
Posted inNational News
Embattled Fed Gov. Lisa Cook vows legal fight against 47th president’s bid to oust her
Federal Reserve Gov. Lisa Cook plans to sue the White House to block her removal, setting up a potential Supreme Court fight that could redefine presidential authority over the central bank and test the Fed’s political independence.
Posted inNational News
Markets plunge after China retaliates against White House tariffs
Wall Street suffered its worst week since the COVID-19 pandemic as escalating U.S.-China trade tensions sent the S&P 500 tumbling 6 percent and deepened fears of a global recession, despite strong U.S. job numbers. China’s retaliatory tariffs, combined with uncertainty over future Fed rate cuts and inflation concerns, triggered widespread market losses, with nearly all S&P 500 companies falling and key stocks with ties to China hit especially hard.
