Federal Reserve Board Governor Lisa Cook on Thursday sued President Donald Trump, seeking to block his unprecedented move to fire her. The suit, filed in federal court in Washington, D.C., also names Fed Chairman Jerome Powell and the Board of Governors itself as defendants. Trump said Monday that he was removing Cook because of allegations that she committed…
White House National Economic Adviser Kevin Hassett prepares to give a live television interview at the White House in Washington, D.C., U.S., August 4, 2025. Jonathan Ernst | Reuters President Donald Trump’s top economic adviser, Kevin Hassett, said Wednesday that Federal Reserve Board of Governors member Lisa Cook should go on leave from the central…
Federal Reserve Chair Jerome Powell delivered his annual address Friday morning at the central bank’s annual symposium in Jackson Hole, Wyoming. He indicated that conditions “may warrant” interest rate cuts as the Fed proceeds “carefully.” Markets have been looking to Powell to provide strong hints about a September interest rate cut. For their part, the…
President Donald Trump on Thursday announced he has selected Stephen Miran, chair of the Council of Economic Advisors, to a pivotal seat on the Federal Reserve Board of Governors, replacing Adriana Kugler, who resigned Friday. The nominee will serve out Kugler’s term, which expires Jan. 31, 2026. “In the meantime, we will continue to search…
US President Donald Trump speaks to journalists at Lehigh Valley International Airport in Allentown, Pennsylvania, on August 3, 2025 as returns to the White House from his Bedminster residence, where he spent the weekend. Brendan Smialowski | Afp | Getty Images President Donald Trump plans over the next several days to name replacements for two…
It’s a virtual three-way tie to replace Fed Chair Jerome Powell as Fed chair when his term expires. The CNBC Fed Survey found 24% of respondents saying President Donald Trump will replace Powell with Treasury Secretary Scott Bessent and 24% saying it will be former Fed Governor Kevin Warsh. Close behind is Kevin Hassett, director…
The market may be trading around record highs, but the Verdence Capital Advisors CIO is worried trouble is lurking. Megan Horneman, who oversees $4.1 billion in assets under management, thinks there’s too much complacency around the Aug. 1 U.S. trade deadline. “This market is pricing in the perfect situation,” she told CNBC’s “Fast Money” on…
President Donald Trump on Friday expressed confidence the Federal Reserve will start lowering interest rates, a day after he met with central bank Chair Jerome Powell. The president indicated the meeting took a positive tone and believes the Fed is ready to provide the monetary policy easing he has been seeking for months. “I think…
President Donald Trump on Tuesday continued his barrage of criticism against the Federal Reserve but seemed to take a step back from any lingering plans to fire Chair Jerome Powell. “I think he’s done a bad job, but he’s going to be out pretty soon anyway,” Trump told reporters during a White House exchange. “Eight…
Treasury Secretary Scott Bessent on Monday suggested a review of the Federal Reserve that would go beyond the current controversy over building renovations and look at its overall function. “What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” Bessent said during an interview on CNBC’s “Squawk…
