The Trump administration has petitioned the Supreme Court for an emergency order to remove Lisa Cook from the Federal Reserve’s board of governors. This action follows a failed attempt by the administration to oust Cook, who was appointed by President Joe Biden, and is part of a larger effort to reshape the Fed. The legal challenge is unprecedented, as no president has previously fired a sitting Fed governor. The administration argues that Cook’s alleged actions regarding mortgage rates raise concerns about her trustworthiness and ability to manage interest rates, though she denies any wrongdoing and has not been charged with a crime.
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The Federal Reserve lowered its key interest rate by a quarter-point, projecting two more cuts this year due to concerns about the labor market’s health. This move, the first since December, reflects a shift from focusing on inflation to employment, as hiring slows. While the Fed aims to boost growth and hiring, the decision faced dissent from a newly appointed policymaker favoring a larger cut. Despite some internal differences, officials still anticipate further rate reductions, although less than Wall Street had anticipated. The Fed faces the challenges of a weakening economy and external pressures on its independence, particularly regarding the attempt to remove a Fed governor.
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US appeals court rejects Trump bid to oust Fed’s Lisa Cook, and it feels like a very important moment in a longer story. The core of this is that a federal court has just said “no” to Trump’s attempt to remove Lisa Cook from the Federal Reserve board. It’s not just a formality either; the court ruled the removal was illegal and has put her back in her position. It really underscores the legal challenges Trump faces, and frankly, the kind of things he seems to want to be able to do without any real basis.
This whole situation started with accusations aimed at Cook.… Continue reading
Newly discovered documents challenge the Trump administration’s accusations that Federal Reserve Governor Lisa Cook committed mortgage fraud. The dispute centers on whether a federal housing regulator’s referral to the Department of Justice was supported by documents demonstrating criminal intent, and if Trump could lawfully remove a Fed governor. A loan estimate for Cook’s Atlanta property, obtained by Reuters, indicates she intended to use it as a vacation home, contradicting claims that she falsely declared multiple properties as primary residences. Cook has sued to prevent her removal, with a federal judge issuing a preliminary injunction allowing her to remain on the Fed while the suit proceeds.
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Federal Reserve Governor Lisa Cook characterized a condominium as a “vacation home” on a loan estimate, which could contradict claims of mortgage fraud. The Trump administration, seeking Cook’s removal, alleged she falsely claimed both the condo and another property as her primary residence simultaneously. Cook sued to block her firing and secured an injunction, although the administration has appealed the ruling. The Justice Department is investigating these claims, as misrepresenting a property’s primary residence status can impact mortgage terms.
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Financial documents obtained by NBC News contradict accusations of mortgage fraud against Federal Reserve Governor Lisa Cook. Records from a loan summary and Cook’s national security questionnaire indicate the Atlanta property was designated as a “vacation home” and a “2nd home,” respectively. This contradicts claims by figures like Bill Pulte and Donald Trump, who have accused Cook of misrepresenting the property as her primary residence for financial gain. Despite these documents, the Trump administration is still attempting to remove Cook from her role, and a federal judge has temporarily blocked her termination.
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Exclusive: Fed Governor Cook declared her Atlanta property as “vacation home,” documents show. Let’s get straight to it. It seems like some folks tried to make a mountain out of a molehill regarding Fed Governor Cook’s property in Atlanta. The heart of the matter is this: she declared it as a vacation home, and the documents seem to back that up. This isn’t a matter of a second primary residence, which is what some were insinuating.
Exclusive: Fed Governor Cook declared her Atlanta property as “vacation home,” documents show. Honestly, the whole thing feels like a manufactured controversy. It’s almost as if people were desperately searching for anything, anything at all, to criticize her.… Continue reading
US consumer inflation accelerates; weekly jobless claims approach four-year high, and it’s definitely a situation that’s got people talking, and not in a good way. It seems like things are heading in a direction that many predicted, and the consequences are starting to hit home. The rise in inflation, as reported by the Labor Department, is the biggest jump we’ve seen in a while, and that’s directly translating into higher prices for everyday essentials.
The other side of this coin is the news about weekly jobless claims. They’re nearing a four-year high, which means more people are finding themselves out of work.… Continue reading
In a recent ruling, a judge has blocked a former president from removing Federal Reserve Governor Lisa Cook. The judge’s preliminary injunction cited that the removal attempt violated the Federal Reserve Act’s “for cause” provision, which limits grounds for removal to actions related to the Governor’s behavior in office. This decision allows Cook to participate in upcoming Fed meetings. The former president’s effort to remove Cook followed months of pressuring the Fed to lower interest rates, and stemmed from allegations of mortgage fraud that occurred before Cook joined the Fed.
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“I’m Gonna Punch You in Your F—ing Face”: Scott Bessent Threatens an Administration Rival – It’s a bold statement, isn’t it? Coming from a high-ranking official, it paints a vivid picture of the current political climate, doesn’t it? The alleged threat from Scott Bessent to an administration rival, specifically involving a confrontation described as “I’m going to fucking beat your ass,” immediately grabs your attention. It’s the kind of thing that seems more at home in a high school brawl than in the corridors of power.
The details surrounding this alleged threat, as relayed by multiple sources, offer a disturbing glimpse into the dynamics within the administration.… Continue reading
John Q. Hosedrinker 
Matt Underwood