Fed, Lisa Cook and Trump administration
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Federal Reserve officials will make an interest rate decision this week in the face of rising inflation, a slowing job market, and President Trump's attack on the central bank's independence.
The Trump administration’s historic attempt to control the Fed is whipping up concerns at home and abroad from economists and traders about the future independence of the U.S. central bank. These efforts are escalating,
More revisions to federal data are revealing the labor market was on weaker footing than initially thought to start the year as hiring has stalled out over the
President Donald Trump’s attempt to fire a member of the Federal Reserve’s governing board has raised alarms among economists and legal experts who see it as the biggest threat to the central bank’s i
Trump followed up Pulte’s accusation by calling on Cook to resign, in the latest effort by the administration to exert greater control over one of the few remaining independent agencies in Washington. Trump has repeatedly attacked the Fed’s chair, Jerome Powell, for not cutting its short-term interest rate, and even threatened to fire him.
The unprecedented step could test the boundaries of presidential power over the independent monetary policy body should it be challenged in court.