Economic Policy and Trade - The company has signed a document related to trade negotiations, indicating ongoing discussions to refine trade deals, particularly with the UK [6][7] - The company claims to have generated significant revenue from tariffs, with $950 billion from the European Union and $650 billion from Japan, highlighting a shift from previous trade dynamics where these countries paid nothing [13][14] - The company anticipates that a favorable Supreme Court ruling on tariffs could lead to unprecedented wealth, positioning the country as the richest globally and enhancing its negotiating power [15][16] Tariffs and Auto Industry - There are concerns among auto executives regarding the impact of reducing tariffs from 25% to 15%, with claims that this could hurt American auto manufacturers [12] - The company asserts that the previous tariff structure allowed foreign countries to pay nothing, and the current tariffs are a significant improvement [14] International Relations - The company emphasizes the importance of maintaining strong relationships with international leaders, particularly with the UK, as part of its broader trade strategy [5][6] - The company is set to discuss a deal with China regarding TikTok, indicating ongoing negotiations that could affect the tech industry [10]

The latest CNBC Fed survey is out. Steve Leeman uh joins us now with more. Hey, Steve.It's nice to hear you being excited as I am about this, Joe, with the Fed meeting today amid considerable disagreement among respondents to the CNBC Fed survey, not over what the Fed's going to do, but what they should do and growing concern over President Trump's intentions for Federal Reserve independence. Here's the Fed expectations chart. 97% think the Fed's going to cut by 25, but only 41% think the Fed should cut by ...

Core Insights - The CNBC Fed survey reveals significant disagreement among respondents regarding the Federal Reserve's actions and the implications of President Trump's influence on Fed independence [2][3][4] Group 1: Federal Reserve Expectations - 97% of respondents expect the Fed to cut rates by 25 basis points, but only 41% believe this is the appropriate action [2][5] - 41% of respondents think a 50 basis point cut is warranted, while 28% believe the Fed should not cut rates at all [5] - The current year-end funds rate for 2025 is projected at 3.6%, down 30 basis points from the previous survey, with a further drop to 3.13% for 2026 [6] Group 2: Concerns Over Fed Independence - 82% of respondents believe President Trump is attempting to limit or eliminate Federal Reserve independence, with 41% indicating a desire to limit it and another 41% wanting to eliminate it [3][4] - 68% believe that these presidential actions will lead to higher inflation, while 57% think it will result in higher unemployment [4] - 74% of respondents anticipate a lower value of the US dollar as a consequence of these actions [5] Group 3: Future Fed Leadership - Among the 29 respondents, 45% believe President Trump will appoint Chris Waller as the next Fed Chair, while 24% favor Worsh and 17% favor Hasset [13] - The process for selecting the next Fed Chair is described as transparent, with the Treasury Secretary actively interviewing potential candidates [17][18] - The survey indicates a growing interest in the implications of Fed leadership on future policy decisions [15]

Core Viewpoint - A federal appeals court has dismissed President Trump's emergency request to remove Federal Reserve Governor Lisa Cook, allowing her to continue serving while her legal challenge proceeds, which is significant ahead of a crucial Federal Reserve meeting on interest rates [1][2]. Group 1: Court Ruling - The U.S. Court of Appeals for the District of Columbia Circuit ruled 2-1 to uphold a lower court's decision, permitting Cook to remain in her position during the ongoing legal proceedings [2]. - The ruling emphasizes that Cook has a property interest in her role and is entitled to due process before any removal, highlighting that the Trump administration did not provide her with adequate notice or opportunity to respond to the allegations [3]. Group 2: Political Context - Trump's economic adviser Stephen Miran has been confirmed to join the Federal Reserve board, with a narrow Senate vote of 48-47, raising concerns among Democrats about the potential impact on the central bank's independence [4]. - Senator Elizabeth Warren criticized Miran's appointment, suggesting it could undermine the Federal Reserve's autonomy and calling him a "Donald Trump puppet" [4]. Group 3: Allegations Against Cook - Trump announced his intention to fire Cook, alleging mortgage fraud related to her claiming two properties as her primary residence, asserting that he has the authority to remove governors "for cause" under the Federal Reserve Act [5]. - Cook has publicly challenged the legality of Trump's actions, asserting that no valid cause exists for her removal and that she will continue her duties [5]. Group 4: Ongoing Legal and Political Implications - Senator Warren remarked on social media that the courts have consistently rejected Trump's attempts to take control of the Federal Reserve, indicating that if the legal system continues to uphold the law, Cook will retain her position [7].

ToplineA federal appeals court on Monday night dismissed President Donald Trump’s emergency bid to fire Federal Reserve Governor Lisa Cook, a ruling that comes hours before a key two-day meeting, where the central bank is set to make a decision on interest rates.Federal Reserve Board of Governors member Lisa Cook listens during an open meeting of the Board of Governors at the Federal Reserve.Copyright 2025 The Associated Press. All rights reserved.Key FactsIn a 2-1 ruling, the U.S. Court of Appeals for the ...

Core Points - The Trump administration is seeking to fire Lisa Cook from the Federal Reserve's board of governors ahead of an important interest rate vote [1][5] - Cook's legal team argues that the administration has not provided sufficient cause for her dismissal, highlighting potential economic risks [2][4] - This situation marks a historic attempt by a president to influence the independent Federal Reserve, with Cook being the first governor targeted for removal [3] Legal Proceedings - The Trump administration filed a response to the U.S. Court of Appeals, claiming Cook's arguments against her firing are without merit [2] - Cook has initiated legal action to block her firing, and a federal judge previously ruled that the removal was illegal, reinstating her to the board [4] Allegations and Investigations - Allegations against Cook include claims of mortgage fraud related to her property declarations, which have led to a criminal referral to the Justice Department [3][4] - The administration's justification for firing Cook is based on these allegations, although her characterization of the properties may undermine the claims [4] Economic Implications - The administration's appeal comes just before a Federal Reserve meeting where a key interest rate decision is expected, with economists predicting a quarter-point cut [5]

Group 1 - The current Consumer Price Index (CPI) is at 2.9%, which is above the Federal Reserve's target of 2% [2][3] - Inflation is expected to continue accelerating due to higher tariffs and immigration policies affecting labor markets [3] - The job market is experiencing stagnation, with flat job growth, which may lead to interest rate cuts by the Federal Reserve [4][10] Group 2 - If CPI comes in lower than expected, it could open the door for a 50 basis point rate cut, which the market may react positively to [6][7] - The bond market is closely monitored by the Federal Reserve as it reflects investor sentiment regarding future monetary policy [9] - There is a possibility of six rate cuts priced in by the end of 2026, reflecting concerns about job market weakness and persistent inflation [11][12]

Core Viewpoint - The ongoing legal battle between President Trump and Federal Reserve Governor Lisa Cook centers around Trump's attempt to fire Cook, which has been temporarily blocked by a federal judge, potentially leading to a Supreme Court case [1][5]. Legal Proceedings - Trump has filed an appeal against U.S. District Court Judge Jia Cobb's ruling that blocked Cook's firing, with the administration considering seeking an emergency pause to the judge's order [1][5]. - Judge Cobb's ruling indicated that Cook's termination likely violated the Federal Reserve Act, which restricts at-will firings of Board members [5][7]. Allegations and Defense - White House spokesperson Kush Desai stated that Trump removed Cook due to credible allegations of mortgage fraud, asserting that the president acted lawfully [2][4]. - The allegations against Cook originated from Bill Pulte, a Trump appointee, who linked her to properties involved in mortgage fraud referrals to the Justice Department [8][9]. Cook's Response - Cook has filed a lawsuit against Trump and other parties, claiming that her firing was unlawful and undermined the Federal Reserve's independence [9]. - Cook's legal team argues that the allegations regarding her mortgage filings do not pertain to her conduct while in office, which is the basis for removal under the Federal Reserve statute [7][9]. Criminal Investigation - The Justice Department has initiated a criminal investigation into Cook regarding the mortgage application fraud allegations, which could complicate her position on the Federal Reserve Board [11].

Breaking news out of the White House here that President Trump now says he is appealing the judge's recent decision to allow Lisa Cook to return to work while her case plays out. He's appealing that order that blocked him from firing Federal Reserve Governor Lisa Cook. It's a very short appeal.All we know is that the president's legal team has now fired it with the US District Court for the District of Columbia. Of course, this coming just a day after the judge said that Cook was allowed to return to work i ...

And we are back on the halftime report. Let's get to our Megan Cassella in Washington with breaking news. Megan Frank, breaking news out of the White House here that President Trump now says he is appealing the judge's recent decision to allow Lisa Cook to return to work while her case plays out.He's appealing that order that blocked him from firing Federal Reserve Governor Lisa Cook. It's a very short appeal. All we know is that the president's legal team has now fired it with the US District Court for the ...