Overview

• U.S. District Judge Jia Cobb blocked President Trump’s attempt to remove Governor Lisa Cook, and an appeals panel could decide as soon as Sunday whether she can remain in office during litigation.
• Senate Republicans have slated a Monday vote on Stephen Miran’s nomination, and he says he will take unpaid leave from his White House role rather than resign, positioning him to join the Board if sworn in in time.
• Markets overwhelmingly expect a quarter‑point cut on Wednesday—the first since December 2024—with fresh projections and a press briefing from Chair Jerome Powell to follow.
• Analysts flag an unusually high risk of dissents, with JPMorgan’s Michael Feroli projecting two or three votes for a larger cut as divisions over the size of easing sharpen.
• Policymakers face weakening job growth alongside inflation running above the 2% goal, with tariff-driven price pressures complicating decisions under the Fed’s dual mandate.