US President Donald Trump said he would fire Lisa Cook from the Federal Reserve Board of Governors if she does not resign her post over mortgage-fraud accusations from a top ally. https://t.co/cOyqgUL9H8 ...

Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain https://t.co/zWGg82biRH ...

Monetary Policy & Central Banking - The Jackson Hole symposium, an annual meeting for monetary policy leaders in Wyoming, is taking place [1] - Kansas City Fed President Jeffrey Schmid discussed the agenda for central bankers and academics at the symposium [1]

ambitiously. >> Welcome back to Squawk Box. The Department of Justice is investigating Federal Reserve Governor Lisa Cook over allegations of fraud related to her mortgages.A letter signed by DOJ attorney Ed Martin also urging Fed Chair Jerome Powell to remove cook from the central bank's board, though in fact he doesn't have the power to do that. Joining us right now to help us understand the allegations against cook, some of the rules and how this could all play itself out. Former Assistant Attorney Gener ...

Monetary Policy & Central Banking - Jackson Hole annual Fed symposium is approaching, where monetary policy leaders convene in Wyoming [1] - Kansas City Fed President Jeffrey Schmid will discuss the agenda for central bankers and academics [1]

Regulatory Scrutiny - Department of Justice calls on Fed Chair Jerome Powell to fire Federal Reserve Governor Lisa Cook [1] - Allegations involve mortgage fraud [1] Personnel Matters - Federal Reserve Governor Lisa Cook faces potential removal [1]

Federal Reserve Governance and Political Influence - The political independence of the Fed is jeopardized when board members are personally attacked by the president [1] - Trump's ability to fill board seats impacts actions like adjusting the discount rate, which is decided by the board of governors [2] - The appointment of Lisa Cook's successor has long-term implications for regulatory and monetary policy, influencing decisions for over a decade [3] Potential Removal of a Board Member - The president can remove a member of the board of governors "for cause" under section 10.2% of the Federal Reserve Act [4] - The Department of Justice is investigating Lisa Cook for potential mortgage fraud, which could be a path for her removal [3][6] - An internal investigation by the Federal Reserve, including an inspector general examination of financial disclosures, is expected [7] - The board of governors has less power to remove its members compared to Federal Reserve regional bank presidents [8]

Federal Reserve Policy & Dual Mandate - The Federal Reserve's dual mandate of inflation and jobs is creating a dilemma, as these goals appear to be in conflict [1] - The Fed needs to determine which aspect of its dual mandate to prioritize: weaker jobs data potentially leading to rate cuts, or persistent inflation [1][2] Interest Rate Path & Economic Factors - The market is closely watching for signals from the Federal Reserve regarding the future interest rate path [1] - Factors influencing the Fed's decision include weaker jobs reports, inflation trends (especially services inflation), and potential tariff relief [2] - It remains uncertain whether Fed Chair Powell's speech at Jackson Hole will indicate a path towards rate cuts or a continuation of the "wait and see" approach [3] Committee Decision-Making - Interest rate decisions are made by the full Federal Reserve committee, not solely by the chair [3]

I just want to bring you some news. Uh, I have received a letter from what appears to be the Department of Justice, Edward Martin, who is the special attorney for mortgage fraud, associate deputy attorney general, to Fed Chair Jerome Powell. This is in relation to the saga and the accusations around Lisa Cook around mortgage fraud.Um, the letter from the Department of Justice's Ed Martin that I'm looking at addressed to Chair Powell says that he's received referrals and must examine publicly available facts ...

The Justice Department plans to investigate Fed Governor Lisa Cook, with a top official informing Fed Chair Jerome Powell of the probe and encouraging him to remove her from the board in a letter sent Thursday https://t.co/sPNPiQr1qV ...