Washington — The Supreme Court on Wednesday said it will hear arguments in January on whether President Trump can fire Lisa Cook from her position on the Federal Reserve Board of Governors. The high court said in a brief unsigned order that it is not yet acting on Mr. Trump’s request for emergency relief. The…
US stock futures climbed on Tuesday after the Senate confirmed President Trump’s pick, Stephen Miran, as a Federal Reserve board governor, following another record-setting day on Wall Street. Futures attached to the Dow Jones Industrial Average (YM=F) rose just above the flatline, the benchmark S&P 500 (ES=F) edged higher 0.2%, and the tech-heavy Nasdaq 100…
A federal Judge on Tuesday ruled that Lisa Cook can remain in her role on the Federal Reserve’s Board of Governors while her lawsuit challenging President Trump’s attempt to fire her from her post plays out. “President Trump has not stated a legally permissible cause for Cook’s removal,” U.S. District Judge Jia Cobb, who was appointed…
Job seekers’ confidence in finding new employment has fallen, a new survey reveals. According to the Federal Reserve Bank of New York’s Survey of Consumer Expectations, the average “perceived probability” of finding a new job after losing one fell 5.8% points to 44.9% among heads of households surveyed in August, the lowest measure on record since 2013…
Washington — President Trump’s attempt to fire Lisa Cook as a member of the Federal Reserve Bank’s Board of Governors puts the nation in uncharted legal waters, and may ultimately be up to the Supreme Court to provide clarity on whether the move crosses a legal boundary, legal scholars expect. Mr. Trump’s move to oust…
President Trump’s move to fire Federal Reserve governor Lisa Cook could roil financial markets, raise uncertainty for investors and heighten concerns that the White House is trying to wrest control of the historically independent central bank, according to Wall Street analysts. Mr. Trump announced her removal in a letter posted Monday night on Truth Social, citing allegations…
U.S. stock futures inched higher Friday as investors await news out of Jackson Hole, Wyoming, where Federal Reserve Chair Jerome Powell is set to speak later this morning. S&P 500 futures were up 15 points, or 0.2%, as of 8:55 a.m. EST, while Dow Jones Industrial Average futures added 140 points, or 0.3%. Tech-heavy Nasdaq…
JACKSON HOLE, Wyo. — When Federal Reserve Chair Jerome Powell gives his last speech in Jackson Hole, Wyo., investors will be listening for whether he signals an interest rate cut is coming next month. But Powell’s outline of two bigger questions facing the Fed will shape the future of the central bank in ways that…
Washington — Federal Reserve governor Adriana Kugler will step down early from her post on the central bank’s board, the Fed announced Friday, creating an open position for President Trump to fill. The vacancy comes at a critical time for Mr. Trump, who has pressured the Fed to cut interest rates. Kugler’s replacement will sit…
President Trump asked about the idea of firing Federal Reserve Chair Jerome Powell in a meeting with lawmakers this week, CBS News has reported, a legally untested move that follows years of on-and-off criticism of the Fed leader leveled by Mr. Trump. The president’s gripes with his handpicked Fed chair — whom he has called…