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.
Category: Federal Reserve System
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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.
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What to Know About the Fed’s Lisa Cook and Mortgage Fraud Allegations
Trump administration officials have accused the Federal Reserve governor of mortgage fraud and called for her to resign.
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Can Trump Fire a Fed Governor? What to Know About the Legal Arguments
The Supreme Court has indicated that there are distinctive reasons to shield the Federal Reserve from political interference.
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Stocks and Bonds Rise After Powell Suggests Interest Rate Cuts Could Be Imminent
Investors’ expectations of lower interest rates were reflected in the major stock indexes and lower government bond yields.
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Trump Threatens to Fire Fed Governor Lisa Cook If She Does Not Resign
President Trump said he would fire Lisa Cook, a Federal Reserve governor, if she did not resign. But his ability to fire a Fed governor is limited.
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Jerome Powell Suggests Fed Will Soon Cut Interest Rates in Jackson Hole Speech
Jerome H. Powell said the “balance of risks” across the economy had started to shift, raising the odds the central bank lowers borrowing costs at its next meeting in September.