President Trump’s attempt to fire Lisa Cook has laid bare the erosion of the Federal Reserve’s independence, which could lead to economic consequences for Americans, The New York Times’s chief economics correspondent explains.
Category: Federal Reserve System
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Trump’s Fed Feud Spotlights Mortgage Data Privacy: Is Your Information Public?
After President Trump accused a Federal Reserve governor of mortgage fraud, everyday citizens are waking up to just how much information is out there.
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The Fate of the Fed May Turn on Two Words: ‘For Cause’
The Supreme Court has said the Federal Reserve Board’s independence warrants protection. President Trump’s effort to fire a member will test that commitment.
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Stock Market Reaction Is Muted After Trump’s Threats to Lisa Cook and the Fed
The market reaction was muted after President Trump moved to fire the Federal Reserve governor Lisa Cook. One economist likened the response to a frog in “gently heating” water.
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Mortgage Fraud Claims Give Trump Weapon Against Lisa Cook and Others
The director of Federal Housing Finance Agency could win the president an opening on the Federal Reserve board.
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Trump’s Attempt to Fire the Fed’s Lisa Cook Risks Global Economic Stability
President Trump’s attempt to fire Lisa Cook, a Fed governor, will set off a long legal battle. Economists warn it could lead to higher inflation and government borrowing costs.
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Fed Governor Lisa Cook to Sue Over Firing, Asserting Trump Abused Power
Lawyers for Ms. Cook promised to take legal action one day after the president moved to fire her over allegations of mortgage fraud.
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Trump Risks Global Economic Stability as He Tries to Control the Fed
President Trump’s attempt to fire Lisa Cook, a Fed governor, will set off a long legal battle. Economists warn it could lead to higher inflation and government borrowing costs.
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Lisa Cook Says She Will Not Step Down From the Fed
Ms. Cook said that she would not resign from the board of governors, hours after President Trump announced he was firing her.
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Trump Says He Is Removing Lisa Cook From Federal Reserve Board
“I have determined that there is sufficient cause to remove you from your position,” Mr. Trump said in a letter. Her dismissal threatened to touch off a landmark legal battle over the Fed’s independence.
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Fed Officials Try to Keep Focus on Economy as Trump Intensifies Attacks
The administration’s effort to oust a Fed governor as part of a pressure campaign for lower borrowing costs created an inescapable distraction at this year’s Jackson Hole conference.
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Lisa Cook, Who Broke Ground at the Fed, Faces Attack by Trump
The first Black woman to serve on the Federal Reserve board, Ms. Cook has long been a pathbreaker in a field dominated by white men.