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One former Fed adviser last week said the Cook case showed how the Miran nomination had done little to satisfy the White House:. The administration operates under “schoolyard rules,” he said, where “you give up your lunch money, and they come back for your backpack.”.

“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” said Cook in a statement late Monday. “I will not resign.”. Abbe Lowell, a lawyer for Cook, said Trump’s move “is flawed and his demands lack any proper.

“This should be seen for what it is: a blatant shakedown and an attempt to strong-arm policymakers into lowering rates.”.

Trump says he is removing Fed Governor Lisa Cook from her position in a post on his social media account

Bitcoin’s on fire at $112K! Time to flip the charts on BTCC!.Exploring Cryptocurrency with Jaren Jackson Jr.🏀.

Institutional survival became the unmistakable and pervasive undercurrent at what is normally a staid academic gathering of central bankers in Jackson Hole. My dispatch from the weekend in Wyoming

The debate among central bankers gathered in Wyoming suggests the focus is now shifting beyond the September meeting to whether the Fed will entertain cutting again at either of its final two meetings of the year, in October and December.

👀 Michael Faulkender, the deputy Treasury secretary, was pushed out of his job after frustrating President Trump and feuding with those close to him. Trump became convinced he wasn’t aligned with the overall vision of his second term.

Another Powell pivot at Jackson Hole, but this one is far more cautious than last year’s given how inflation is moving (for now) away from the Fed’s target and policy is less tight than it was a year ago

Powell’s last rodeo: Every year at Jackson Hole, he joins his peers—this year, Andrew Bailey, Christine Lagarde, and Kazuo Ueda—for a “walk” (for the still photographers) outside the Jackson Lake Lodge following his keynote.

Faulkender was confirmed to his post as Bessent's No. 2 less than five months ago and had served in a Senate confirmed post in the Treasury in the first Trump administration.

On inflation, Powell notes that tariff effects “are now clearly visible” and are expected to accumulate in the months ahead. The question for the Fed is whether those price increases will “materially raise the risk of an ongoing inflation problem.". Powell said a one-time (but.

Powell cautiously tees up a cut: “The balance of risks appears to be shifting.”. While labor markets remain in balance, “it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers.”. “This unusual situation suggests that.

FAIT was ill-fated. The Powell Fed's novel strategy to address the hazards of being pinned at near-zero rates was rolled out at the (virtual staging of) Jackson Hole conference in 2020. Five years on, they are preparing to quietly retire it.

Boston Fed President Susan Collins opens the door to a September cut: . The Fed's rate stance was appropriate in July but the subsequent payroll figures were softer than expected. If data by the time of next month's meeting suggests more "risks of worsening labor market.

Cleveland Fed President Beth Hammack: "I see an inflation picture that is too high and rising and moving in the wrong direction." The outlook is "radically different" from when the Fed cut last year. On current data, "I would not be supportive . of reducing interest rates.".

Jay Powell is under siege on multiple fronts:. •political pressure with a whiff of institutional overhaul that goes beyond changing the chair.•an economy flirting with stagflation-lite or a slowdown.•a committee splintering over managing the tradeoffs.

Fed governor Lisa Cook responds, “I am gathering the accurate information to answer any legitimate questions and provide the facts.”. Full statement:. “I learned from the media that FHFA Director William Pulte posted on social media that he was making a criminal referral based on.

The minutes don't usually say much that's new, but they reinforce what is publicly available:. -Per Powell's press conference, the committee was in a relatively hawkish mood (at least compared to the market) at the July meeting.-Data/forecast dependence in action: After the Aug 1.

Zohran Mamdani: He votes for activists, not you