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: United States Economy
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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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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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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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Trump’s Attacks on the Fed and BLS Threaten Key Source of Economic Strength
The president’s efforts to control the Federal Reserve and Bureau of Labor Statistics carry risks. But collectively, the moves could be even more damaging, economists warn.
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Trump’s Attacks on Fed Overshadow a Critical Moment for the Central Bank
The president’s calls for Lisa Cook, a Fed governor, to resign are diverting attention from economic issues as top central bankers from around the world gather in Jackson, Wyo.
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Walmart Sees Sales ‘Momentum’ Despite Tariffs
After mixed reports from retail rivals, Walmart reported better-than-expected quarterly results and raised its sales forecast for the year.
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Behind Powell’s Big Gamble in Final Jackson Hole Speech
Jerome Powell, the Federal Reserve chair, is managing a high-stakes balancing act as he grapples with a cooling labor market, rising inflation and White House pressure to cut interest rates.
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Fed Officials Split Over How to Read Economic Signals
Minutes from the Federal Reserve’s July meeting showed policymakers grappling with a slowing labor market and inflation that remains above the central bank’s target.
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Economic Data Has Taken a Dark Turn. That Doesn’t Mean a Crash Is Near.
Inflation is up and job creation down, but the U.S. economy could still pull through without too much pain.