Core Points - The U.S. Senate narrowly confirmed Stephen Milan as a member of the Federal Reserve Board with a vote of 48 to 47 [1] - Milan is expected to participate in the Federal Reserve meeting starting on September 16, which is anticipated to discuss a new round of interest rate cuts [2][3] Group 1 - Stephen Milan previously served as a senior economic policy advisor at the U.S. Treasury during Trump's first term and holds a Ph.D. in economics from Harvard University [2] - The Federal Reserve announced on August 1 that Governor Kugar would resign, effective August 8, and Trump nominated Milan to fill the vacancy [2] - The Federal Appeals Court ruled to prevent Trump from dismissing Federal Reserve Governor Lisa Cook before the monetary policy meeting [3] Group 2 - Lisa Cook faced allegations of mortgage fraud, which she denied, and has filed a lawsuit against her dismissal [3] - The Federal Reserve's monetary policy meeting on September 16 and 17 is widely expected to initiate a new round of interest rate cuts [3]

Core Points - The U.S. Court of Appeals has ruled to prevent President Trump from dismissing Federal Reserve Governor Lisa Cook before the upcoming Federal Reserve monetary policy meeting [1][2] - Lisa Cook was accused by the Director of the Federal Housing Finance Agency, Bill Pulte, of mortgage fraud related to declaring two properties as her "primary residence" to obtain favorable loan rates [2] - Cook has denied any wrongdoing and filed a lawsuit against her dismissal, which was initially paused by a federal district court [2] Summary by Sections - **Legal Proceedings** - The federal district court ruled on September 9 to suspend Trump's decision to dismiss Cook [2] - Trump’s administration filed an emergency application to overturn this ruling before the Federal Reserve meeting [2] - **Allegations Against Cook** - Bill Pulte publicly accused Cook of mortgage fraud, claiming she misrepresented her properties [2] - Cook's defense includes her assertion that she did not engage in any improper conduct [2] - **Upcoming Federal Reserve Meeting** - The Federal Reserve is scheduled to hold a monetary policy meeting on September 16 and 17, with expectations of a new round of interest rate cuts [2] - Cook is set to participate in this meeting [2]