Lawyers for the administration told a court it should be “highly deferential” to the president when it comes to firing a Federal Reserve governor “for cause.”
Category: Powell, Jerome H
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How Trump Could Gain Control of the Fed
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.
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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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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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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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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.
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Jay Powell Takes Center Stage with Friday’s Jackson Hole Address
The Fed chief is expected to address inflation, interest rates and the economy in his speech on Friday. Will he also confront President Trump’s attacks on central bank independence?