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 ...

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 ...

US President Donald Trump speaks during a Religious Liberty Commission meeting at the Museum of the Bible in Washington, DC, US, on Monday, Sept. 8, 2025.President Donald Trump on Wednesday appealed a federal judge's order blocking him from firing Federal Reserve Governor Lisa Cook while a lawsuit challenging his removal of her continues.The appeal came a day after U.S. District Court Judge Jia Cobb, in her decision, said, "The public interest in Federal Reserve independence weighs in favor of Cook's reinst ...

Federal judge blocking President Trump from removing Lisa Cook from the Federal Reserve uh Board of Governors uh pending a legal challenge. Steve Leeman joins us now uh with the latest. Hey, Steve.Morning, Joe. Yeah, Fed Governor Lee Cook prevailing in every major legal point in a decision last night from a DC district court judge clearing the way for her to keep her job and participate at the upcoming Fed meeting. But the White House suggesting the case is not over yet.Uh, Judge Gia Cobb issued a prelimina ...

Core Viewpoint - Donald Trump's attempt to remove Lisa Cook from the Federal Reserve has been blocked by a federal judge, highlighting the ongoing tension between the Trump administration and the Fed's independence [1][4]. Group 1: Legal Developments - A federal judge ruled that the claims against Lisa Cook regarding mortgage fraud were likely insufficient for her removal from the Federal Reserve [2][4]. - The White House alleged that Cook inaccurately described properties on mortgage applications, potentially allowing her to secure lower interest rates and tax credits [3]. - Cook's lawyer emphasized the ruling as a reinforcement of the Federal Reserve's independence from political interference [13]. Group 2: Economic Context - Trump's calls for the Federal Reserve to cut interest rates have not been heeded, as the central bank remains focused on inflation concerns linked to the trade war [5][7]. - The potential for a rate cut may arise due to a deterioration in the employment market, which has been negatively impacted by the trade war [5]. - The Federal Reserve's dual mandate includes ensuring maximum employment while controlling inflation, which complicates the influence of political demands on monetary policy [7][12].

Core Viewpoint - Goldman Sachs predicts that gold could reach $5,000 per ounce by the end of next year, driven by factors such as central bank demand and inflation concerns [1][10]. Group 1: Federal Reserve Independence - The forecast is based on the potential for increased political pressure on the Federal Reserve, which could lead to aggressive cuts in short-term rates, fueling inflationary expectations [3]. - Inflation fears typically drive investment flows into gold, making it a key asset during uncertain economic times [3]. Group 2: Central Bank Behavior - Central banks are increasingly purchasing gold instead of U.S. Treasuries, indicating a shift in reserve management [7]. - Global central bank reserves of gold have reached 27%, the highest level in 30 years, while U.S. Treasury reserves are at 23%, the lowest since the Global Financial Crisis [7]. Group 3: Market Dynamics - The current environment, characterized by central bank demand and inflation concerns, sets the stage for significant upward pressure on gold prices [5]. - Gold is being viewed as a hard-asset alternative to U.S. debt, which is a departure from the traditional correlation between gold rallies and U.S. dollar weakness [4].

Mortgage Fraud Allegations - The Federal Housing Finance Agency (FHFA) is investigating alleged mortgage fraud, emphasizing its duty to ensure the safety and soundness of the mortgage market [7][9] - The investigation involves a Federal Reserve governor, raising questions about potential political weaponization and independence of the Fed [5][10] - The agency received a tip that initiated the investigation, but the source of the tip is not being disclosed to protect sources and methods [11][13] - The investigation is based on public documents [12] Legal and Political Dimensions - The investigation has sparked debate about the legal meaning of "cause" for potential termination and whether due process is being followed [3][17] - There are concerns about the appearance of political influence, given the involvement of individuals with partisan affiliations [5][6] - The Department of Justice (DOJ) is also investigating the matter [21] - The individual under investigation has sued the president and the Fed board [18][34] Federal Reserve and Jay Powell - Questions are raised about the Federal Reserve's independence and Chairman Jerome Powell's handling of the situation [5][33] - There is speculation about potential motivations and actions of Jay Powell [36][37]

Government Oversight & Independence - The report highlights concerns over potential presidential overreach, specifically regarding the firing of officials in independent agencies [1] - It notes the Supreme Court's stance on protecting the Federal Reserve's independence from presidential interference [1] - The report mentions the firing of Lisa Cook from the Federal Reserve Board of Governors, leading to a lawsuit challenging the president's authority [1] Labor & Employment - The report mentions the firing of members from the National Labor Relations Board, which protects private sector employees' rights [1] - It also mentions the firing of members from the Equal Employment Opportunity Commission, which protects workers from discrimination [1] - The report discusses the removal of the chair of the Merit System Protection Board, which safeguards federal workers from unjust termination [1] Consumer Protection & Transportation - The report highlights the dismissal of Democrats from the Federal Trade Commission, an agency focused on protecting American consumers from fraud [1] - It also mentions the firing of a member of the Surface Transportation Board, who is also challenging their dismissal [1] FEMA & Disaster Relief - The report discusses an open letter from over 180 current and former FEMA officials criticizing the administration's handling of the disaster relief agency [1] - It mentions that at least 30 current FEMA officials were put on leave for signing the letter [2]

I want to go back a little bit and get your take on whether the president can fire Lisa Cook for cause under the Federal Reserve Act. The president has made clear that he believes he can. But from where you sit, does the for cause clause cover private events prior to membership on the board.Because we know that Lisa Cook applied for these mortgages and a sign said that they were for her primary residency before she was on the Federal Reserve Board. Well, you're exactly right, Scarlett. And that's one of the ...

Federal Reserve Governor Lisa Cook has now officially filed a lawsuit challenging her termination by President Trump. The suit states, quote, "The operational independence of the Federal Reserve is vital to its ability to make sound economic decisions free from the political pressures of an election cycle. This case challenges President Trump's unprecedented and illegal attempt to remove Governor Cook from her position, which if allowed to occur, would be the first of its kind in the board's history. ...