Federal Reserve

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Inflation Figures Put the Fed in Tough Spot

It remains well above central bank's 2% target, but Fed is still expected to cut rates next week

(Newser) - Inflation rose last month as the price of gas, groceries, and airfares jumped while new data showed applications for unemployment aid soared, putting the Federal Reserve in an increasingly tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures, the AP reports.
  • Consumer
...

Monthly Housing Costs Soar to Highest Level in Decades

Mortgage rates, insurance, rents outpace stagnant American incomes, per Census Bureau

(Newser) - Monthly housing costs in the US are climbing faster than inflation, squeezing both homeowners and renters alike, according to new Census Bureau data . In 2024, the median monthly cost of homeownership—including mortgage, insurance, taxes, and fees—rose to $2,035 (after being adjusted for inflation), up from $1,...

Court: Lisa Cook Can Stay at Fed for Now

Federal court rules that embattled governor can keep her job while she fights Trump over firing her

(Newser) - A federal court ruled Tuesday that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Trump's efforts to fire her. The ruling, which the AP reports will almost certainly be appealed, is a blow to the Trump administration's efforts to assert more control over...

FHFA Chief Is Having a 'Pot, Meet Kettle' Moment

Records show Pulte's family claimed same tax breaks that he's slamming Fed governor for

(Newser) - Bill Pulte, a federal housing official, has publicly accused Federal Reserve Governor Lisa Cook of improperly claiming homestead exemptions—tax breaks for owners on their primary residence—on more than one property. However, a Reuters investigation found that Pulte's own father and stepmother, Mark and Julie Pulte, have...

Trump's Fed Pick Plans to Stay on White House Payroll

'Are you a Donald Trump puppet?' Republican senator asks Stephen Miran

(Newser) - Stephen Miran, President Trump's nominee for the Federal Reserve Board, told senators Thursday he plans to remain a White House economic adviser—on unpaid leave—if confirmed to the central bank. The move, which would make him the first modern Fed governor to keep such close White House...

Report: DOJ Launches Fraud Probe of Fed Governor

Lisa Cook investigation follows Trump-backed claims of mortgage application fraud

(Newser) - The Justice Department has launched a fraud probe into Federal Reserve Governor Lisa Cook, following accusations that she falsified documents to secure a mortgage, sources tell the New York Times and the Wall Street Journal . The investigation, still in the early stages, involves the issuing of subpoenas and focuses...

In a 4-Year First, Job Seekers Outnumber Openings

Analysts say there is a 'loosening demand for workers' as labor market shifts

(Newser) - For the first time since 2021, there are more Americans looking for work than there are jobs to fill, according to the latest Labor Department data. July saw job openings drop to 7.2 million—a heftier decrease than expected—while the number of jobseekers ticked up to 7....

Embattled Fed Governor Sues Trump Administration

Lisa Cook's complaint says her firing is unjustified

(Newser) - The Federal Reserve governor fighting to keep her job has followed through on plans to sue the Trump administration. Lisa Cook on Thursday asked the US District Court in DC to block her firing by President Trump, reports the Washington Post . Among other things, Cook argued that the allegations of...

In Trump's Attempted Firing of Fed Gov, a 'Legal Gray Area'

Lisa Cook's fight for her job seems likely to head to Supreme Court

(Newser) - President Trump's fight to get rid of a Federal Reserve governor doesn't look to be over anytime soon—and likely will end up in front of the highest court in the land. That's per ABC News , which notes that "no president has ever tried to terminate...

Fed Governor Plans to Sue Trump to Keep Her Post

Lisa Cook is fighting for her job

(Newser) - Federal Reserve governor Lisa Cook plans to fight back against President Trump by borrowing one of his favorite tactics: a lawsuit. Trump's attempt to fire Cook, which he announced on Monday , "lacks any factual or legal basis," said her attorney, Abbe Lowell, reports CNN . "We will...

Fired Fed Governor: I'm Not Leaving
Fired Fed Governor:
I'm Not Leaving
Aug 26, 2025 6:09 AM CDT

Fired Fed Governor: I'm Not Leaving

Lisa Cook will challenge President Trump's authority to remove her

(Newser) - Let the legal fight begin: After President Trump informed Federal Reserve governor Lisa Cook on Monday night that he was firing her , Cook has responded by saying she's not going anywhere.
  • "President Trump purported to fire me 'for cause' when no cause exists under the law, and
...

Trump to Fed Governor Lisa Cook: You're Fired

Move is a first in central bank's history

(Newser) - President Trump announced late Monday that he's ousting Federal Reserve governor Lisa Cook, citing allegations that she misrepresented her primary residence on mortgage paperwork. The claims, raised by Federal Housing Finance Agency chief Bill Pulte, center on Cook's 2021 mortgage applications for homes in Michigan and Atlanta—...

Trump: If Fed Governor Doesn't Resign, 'I'll Fire Her'

President keeps up pressure on Lisa Cook

(Newser) - President Trump stepped up his pressure on the Federal Reserve on Friday, threatening to fire one of the central bank's governors if she doesn't step down on her own. "What she did was bad," Trump told reporters, referring to Lisa Cook. "I'll fire her...

Powell Hints at Rate Cut, and Markets Surge

But Federal Reserve chief doesn't offer specifics in speech

(Newser) - Fed chief Jerome Powell signaled Friday that he's ready to cut interest rates in the near future, though he offered no specifics and plenty of caveats in a closely watched speech. Still, the comments were enough to send markets surging, with the Dow rising more than 700 points as...

Powell's Last Jackson Hole Speech Could Be a Big One

It's not clear whether Fed chief will 'stick to his guns' on economic restraint

(Newser) - Federal Reserve Chair Jerome Powell is set to take center stage at the Jackson Hole summit Friday morning, where his remarks could influence the course of financial markets and monetary policy for months to come. At 10am Eastern investors will be listening closely for any hint that the Fed...

WSJ Editorial Worries About 'Nasty' Attack on the Fed

Conservative editors accuse the White House of 'weaponizing the housing regulator'

(Newser) - The conservative editorial page of the Wall Street Journal is not a fan of the Trump administration's latest effort to change the makeup of the Federal Reserve. On Wednesday, the head of President Trump's housing regulatory agency accused Lisa Cook, one of the central bank's governors, of...

Trump Says Fed Governor 'Must Resign'
Fed Governor
Rejects Call by
Trump to Quit
updated
Aug 20, 2025 5:52 PM CDT

Fed Governor Rejects Call by Trump to Quit

Federal Housing Finance Agency chief accused Lisa Cook of mortgage fraud

(Newser) - President Trump is calling for the resignation of a governor of the Federal Reserve after the director of the Federal Housing Finance Agency accused her of mortgage fraud. "Cook must resign, now!!!" Trump posted Wednesday on Truth Social , referencing a Bloomberg story about Fed governor Lisa Cook. Late...

Trump Threatens 'Major Lawsuit' Against Powell

President says Fed chair has done a 'horrible, and grossly incompetent, job' with renovation

(Newser) - President Trump is weighing a lawsuit against Federal Reserve Chair Jerome Powell over the Fed's costly renovation project, a move that would escalate a long-simmering feud. Trump floated the idea on Truth Social , saying he was "considering allowing a major lawsuit against Powell to proceed because of...

Low-Wage Workers No Longer Getting Big Raises

A pandemic trend appears to have run its course

(Newser) - The surge in wage gains for America's lowest-paid workers that defined the pandemic era appears to be running out of steam, reports the Wall Street Journal . The story uses stats from the latest jobs report to illustrate the trend:
  • Average earnings for leisure and hospitality workers—among the
...

Trump Picks Stephen Miran for Unfinished Fed Term

Selection will give president a reliable ally in Adriana Kugler's place

(Newser) - President Trump announced Thursday that he'll nominate Stephen Miran, chair of his Council of Economic Advisers, to serve out an unfinished term on the Federal Reserve Board. If the Senate confirms him, Miran—a critic of Fed Chair Jerome H. Powell and unbending supporter of Trump's policies—would...

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