The U.S. Supreme Court announced on Wednesday it will hear arguments over Donald Trump's attempt to remove Federal Reserve Governor Lisa Cook - the first-ever bid by a president to fire a Fed official in his unprecedented challenge to central bank independence. ...

Core Viewpoint - The court is set to determine if President Trump has the authority to remove Lisa Cook from the Federal Reserve's board, which is perceived by former officials as a potential threat to the independence of the central bank [1] Group 1 - The decision regarding Lisa Cook's position on the Federal Reserve's board is significant for the future governance of the central bank [1] - Former officials express concerns that such a removal could undermine the autonomy of the Federal Reserve [1]

Every living former chief of the Federal Reserve joined with other big names on Thursday to file a brief with the Supreme Court that offers support to Fed governor Lisa Cook in her legal battle with President Donald Trump. ...

Steven Myron is the chairman of the president's council of economic adviserss. He served as an economic adviser to the Treasury Department under Steven Minutian during President Trump's first term. He was also a senior strategist at Hudson Bay Capital Management. Myin is credited as being one of the authors of Trump's tariff policy and a key architect of the president's economic agenda. He has also been linked with the push for the so-called Mara Lago currency accord based on a paper he wrote outlining vari ...

Appraisal, Borrower Mining, Reverse Mortgage Tools; Conv. Conforming News; Rates Creeping Up In China, red symbolizes prosperity, protection, and welcoming energy, and so is a popular front door color for occupants, especially when facing south. Here in the United States (we’re still united, right?) it doesn’t take long before “occupancy fraud” is on everyone’s lips in residential lending. Occupancy is not a partisan issue, right? And prosecuting it should not be either. Whether it is the Fed’s Lisa Cook, ...

Corporate Developments - General Mills (GIS) reported quarterly sales that exceeded estimates, but shares declined due to warnings about a challenging consumer environment [6] - Cracker Barrel (CBRL) is under scrutiny following controversy over its now-abandoned logo change, with results being closely watched [6] - Nvidia (NVDA) shares fell by 1.5% in premarket trading after reports that China has instructed major tech companies, including Alibaba, not to purchase its AI chips, effectively banning tens of thousands of orders [5] Economic Indicators - The interest rate on a 30-year mortgage has dropped to its lowest level since October 2024, leading to a nearly 60% increase in refinancing applications, the highest since March 2022 [5]

Group 1 - A US appeals court has blocked former President Trump's attempt to remove Fed Governor Lisa Cook, which reinforces the independence of the central bank [1] - TikTok is moving closer to establishing US-based operations as Oracle reportedly joins a consortium amid ongoing US-China discussions [1] - The first US meme coin ETF, DOJE, is preparing to debut, indicating a growing interest in cryptocurrency investment products [1]

Group 1 - A US appeals court has blocked former President Trump's attempt to remove Fed Governor Lisa Cook, which reinforces the independence of the central bank [1]

Core Viewpoint - The Federal Reserve is facing a complex situation characterized by high inflation driven by supply shocks, particularly tariffs, while simultaneously observing weakening economic indicators, leading to a challenging decision-making environment regarding interest rate adjustments [2][4][5]. Group 1: Economic Conditions - Inflation is currently above the Fed's target, especially on a core level, indicating potential future inflationary pressures [2][4]. - Employment numbers are showing signs of weakness, complicating the Fed's response to inflation [2][5]. - The economy is experiencing a stackflation scenario where both inflation and economic weakness are present [2][5]. Group 2: Federal Reserve's Dilemma - The Fed is concerned about inflation expectations and their stability, which could influence their decision-making regarding rate cuts [4][10]. - There is a reluctance to cut rates quickly due to fears that inflation expectations may rise and become anchored at higher levels [5][6]. - The Fed's independence is under scrutiny, particularly with political pressures that could lead to easier monetary policy in the future [7][8]. Group 3: Historical Context and Comparisons - Historical examples from countries like Turkey and Argentina illustrate the risks associated with compromised central bank independence, leading to high inflation and interest rates [9][10]. - The current situation mirrors past instances where central bank independence was challenged, raising concerns about the Fed's ability to manage inflation expectations effectively [9][10].

“Central bank ‘independence" was always a story we told ourselves.After the 70s and coming off the gold standard we put PhDs in ivory towers.But the job didn't change, central banks exist to finance the state."You cannot separate fiscal from monetary.” - @VincentDeluard https://t.co/K0rSdaNbfr ...