Particle.news
Download on the App Store
18 ARTICLES
·
4w ago

Trump Escalates Clash With Fed as Cook Refuses to Quit and Powell Readies Jackson Hole Address

Powell's Jackson Hole speech will test confidence in the Fed's independence.

JACKSON LAKE, WY - SEPTEMBER 27: The Jackson Lake Lodge is viewed as the sun sets over the mountains on September 27, 2022, at Jackson Lake, Wyoming. Grand Teton National Park is an American National Park in northwestern Wyoming and just south of Yellowstone National Park. At approximately 310,000 acres, the park includes the major peaks of the 40-mile-long Teton Range as well as most of the northern sections of the valley known as Jackson Hole. (Photo by George Rose/Getty Images)
Image

Overview

  • President Donald Trump demanded the immediate resignation of Fed Governor Lisa Cook after FHFA Director Bill Pulte referred mortgage-related allegations to law enforcement, though no charges have been filed.
  • Cook said she will not be pressured to resign and plans to answer questions about her finances, according to a statement to Bloomberg.
  • The Jackson Hole symposium is under way, and markets are focused on Jerome Powell's Friday address for signals about a possible September rate cut.
  • The Fed has kept rates at 4.25–4.50% as officials weigh persistent inflation and uncertain tariff effects, with fresh comments from policymakers showing caution about moving quickly.
  • Trump has moved to influence the board after Adriana Kugler's resignation by installing ally Stephen Miran on an interim basis, while global central bankers voice support for Powell and stress the legal and institutional safeguards protecting Fed independence.