Following President Trump’s announcement of Federal Reserve Governor Lisa Cook’s removal, Cook stated she would not resign, disputing the “for cause” reasoning cited in the termination. Trump’s claims of mortgage-related misconduct, originating from a criminal referral by Federal Housing Finance Agency Director Bill Pulte, have been denied by Cook, who was appointed by President Biden. The unprecedented move has sparked debate about presidential authority to remove a Fed governor, raising concerns about the Fed’s political independence and signaling a potential court challenge. Legal experts suggest this could potentially reach the Supreme Court, with implications for monetary policy and markets.
Read More
Former President Donald Trump sought to remove Federal Reserve Governor Lisa Cook, a move that raised investor concerns. Trump cited allegations of falsified mortgage documents as the basis for her dismissal, escalating his efforts to exert greater influence over the US central bank. This action follows accusations from a White House ally regarding Cook’s mortgage loan documentation. The letter was published on Truth Social, outlining Trump’s justification for firing Cook.
Read More
Lisa Cook Says She Will Not Step Down From the Fed Board
It appears the news is out: Lisa Cook, a member of the Federal Reserve Board, has made it unequivocally clear that she will not be resigning from her position. The announcement has generated a lot of buzz, and honestly, it’s hard not to feel a surge of admiration for her resolve. It’s not often we see such a firm stance against what many perceive as an attempt at political maneuvering.
From what I can gather, the backdrop to all this involves allegations of misconduct, specifically concerning some mortgage-related matters.… Continue reading
In an unprecedented move, former President Donald Trump announced the firing of Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud as the cause. This action marks the first time a president has fired a central bank governor in the Fed’s history, raising questions about the legality and implications of such a decision. The dismissal has sparked concern over the Fed’s independence, as Trump has previously criticized the central bank’s interest rate decisions, potentially aiming to exert political influence over monetary policy. The firing’s legality is uncertain, as the law only allows removal “for cause”, a term whose boundaries are undefined, but the move has already impacted the US dollar index, which dropped in value following the announcement.
Read More
The Federal Reserve Chair, Powell, expressed concerns about rising downside risks to employment, warning of potential layoffs and increased unemployment. This concern stems from the July jobs report, which revealed a significant slowdown in job growth, with the three-month average reaching its lowest point since 2010 (excluding the pandemic). The report’s revisions indicated a broader market job loss, despite gains in specific sectors. Powell noted that the slowdown was larger than previously assessed, emphasizing the importance of avoiding slack in the labor market.
Read More
The Producer Price Index (PPI) unexpectedly surged in July, signaling persistent inflationary pressures in the U.S. economy. Excluding food and energy, core PPI rose sharply, with services inflation making a notable contribution. The overall PPI increased by 3.3% year-over-year, exceeding the Federal Reserve’s inflation target, leading to market adjustments. Despite this, the likelihood of a September rate cut by the Fed remained, though slightly diminished by the PPI figures.
Read More
Former President Donald Trump announced on Truth Social that he is considering a major lawsuit against Federal Reserve Chair Jerome Powell, citing the rising costs of the Fed’s building renovation project, which Trump claims is grossly mismanaged. The Fed attributes the project’s higher-than-expected costs to necessary redesigns and unforeseen issues like asbestos and soil contamination. Trump’s post also reiterated his demand for Powell to cut interest rates following the latest inflation data, as headline CPI inflation held steady while core inflation accelerated. Market expectations have shifted toward a September rate cut, although some experts express concerns about the trend of rising core inflation.
Read More
The jobs report triggered a significant surge in bond prices, hinting at a potential Federal Reserve rate cut in September. The nonfarm payrolls for July fell short of expectations, with downward revisions to May and June’s figures. The 2-year note yield plummeted, while the 10-year and 30-year Treasury note yields also declined. Further contributing to the market’s reaction, Federal Reserve Governor Adriana Kugler announced her resignation, and President Trump updated tariff rates.
Read More
July’s nonfarm payroll growth significantly underperformed expectations, with only 73,000 jobs added, a stark contrast to the anticipated 100,000. The unemployment rate also rose to 4.2%, while June and May’s job growth figures were sharply revised downwards, indicating a weakening labor market. The report prompted a market reaction, with stock futures and Treasury yields falling, leading economists to suggest potential Federal Reserve interest rate cuts in September. Job gains were largely concentrated in healthcare and social assistance, while other sectors experienced declines or minimal growth.
Read More
Senator Mullin blocked a resolution from Gallego calling for the release of documents related to Jeffrey Epstein, claiming it was political theater similar to previous investigations against former President Trump. Mullin’s actions raise questions about the need to protect Trump, as his administration failed to deliver on promises regarding the Epstein files. The argument that the investigation is invalid because former President Biden wasn’t involved is deemed weak and lazy, especially considering Trump’s own connection to the case. This obstruction is seen as a deliberate attempt to delay the process and shield Trump from scrutiny.
Read More
John Q. Hosedrinker 
Matt Underwood