Federal Reserve

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Auto Loans, Once the Safest Credit Risk, Now Is Near Bottom

Average car payment now $600, as vehicle prices, interest rates, delinquencies hit record levels

(Newser) - Auto loan delinquencies in the US are surging, with more Americans missing payments as car prices and interest rates climb to record highs. A recent VantageScore study reports that auto loan delinquency rates have jumped more than 50% over the last 15 years, making auto loans—aside from student debt—...

The Supreme Court Is Back, and the Stakes Are Huge

Justices take up disputes over Trump's use of presidential power

(Newser) - It's the first Monday in October, which means the Supreme Court gets back to work. This year, the overriding question is how much leeway the court will give President Trump as he flexes presidential authority. Justices are set to issue definitive rulings on major Trump policies—ranging from...

Supreme Court Rules Lisa Cook Can Stay at the Fed for Now

SCOTUS declines to hear Trump administration's move to oust her until January

(Newser) - The Supreme Court on Wednesday allowed Lisa Cook to remain as a Federal Reserve governor for now, declining to act on the Trump administration's effort to immediately remove her from the central bank. In a short unsigned order, the high court said it would hear arguments in January over...

Fed's Favored Inflation Gauge Ticks Slightly Higher

Analysts say expectations for more rate cuts are unchanged

(Newser) - The Federal Reserve's favored inflation gauge accelerated slightly in August from a year earlier. The Commerce Department reported Friday that its personal consumption expenditures (PCE) price index was up 2.7% in August from a year earlier, a tick higher from a 2.6% year-over-year increase in July and...

Former Economic Chiefs Ask Justices to Block Cook's Firing

Brief warns Fed's independence is at risk

(Newser) - A bipartisan group of former top US economic officials has urged the Supreme Court to prevent President Trump from firing Federal Reserve Board member Lisa Cook, arguing that her sudden removal could undermine the central bank's independence and shake confidence in the economy. The coalition includes ex-Fed chairs...

Trump Asks SCOTUS to Remove Lisa Cook
Trump Asks SCOTUS
to Remove Lisa Cook
Sep 18, 2025 11:14 AM CDT

Trump Asks SCOTUS to Remove Lisa Cook

President wants an emergency order from the high court to remove the Fed governor

(Newser) - The Trump administration on Thursday asked the Supreme Court for an emergency order to remove Lisa Cook from the Federal Reserve's Board of Governors, reports the AP . The administration turned to the high court after an appeals court refused to go along with ousting Cook, part of President Trump'...

Fed Makes First Rate Cut of the Year
Fed Delivers First
Rate Cut of 2025
Sep 17, 2025 1:10 PM CDT

Fed Delivers First Rate Cut of 2025

Central bank cuts key rate by a quarter-point

(Newser) - As markets had almost universally expected, the Federal Reserve announced its first interest rate cut of the year on Wednesday, trimming its key rate by a quarter-point to a range of 4% to 4.25%. The central bank signaled that there would be two more rate cuts this year. The...

City Assessor Seems to Have Good News for Lisa Cook

Ann Arbor official doesn't think she violated property tax laws, reports Reuters

(Newser) - Federal Reserve Governor Lisa Cook has not violated property tax rules for her Ann Arbor home, according to Michigan officials—an assessment that could shape the ongoing legal and political battle over her place on the Fed board, reports Reuters . The city assessor tells the outlet there's "...

Trump's Fed Pick Confirmed Just Ahead of Meeting

Miran becomes first sitting White House official on central bank's board

(Newser) - The Senate on Monday confirmed Stephen Miran, President Trump's senior economic adviser , to the Federal Reserve board in a tight 48-47 vote that came just two weeks after the legislative body received the nomination—the second-quickest Fed confirmation in more than 25 years, the Wall Street Journal reports....

Appeals Court Rebuffs Trump on Fed Governor

Lisa Cook can keep her job, but White House expected to quickly appeal to Supreme Court

(Newser) - An appeals court ruled Monday that Lisa Cook can remain a Federal Reserve governor, rebuffing President Donald Trump's efforts to remove her just ahead of a key vote on interest rates. The Trump administration is expected to quickly turn to the Supreme Court in a last-ditch bid to unseat...

Files Undercut Trump Case to Remove Cook From Fed

Documents show Fed governor referring to condo as a vacation home

(Newser) - Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a vacation home in a loan estimate, a characterization that could undermine claims by the Trump administration that she committed mortgage fraud. President Trump has sought to fire Cook "for cause," relying on...

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...

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