Overview

• The Justice Department asked the D.C. Circuit for an expedited stay by Monday that would suspend a lower court ruling and remove Cook from the board ahead of the Sept. 16–17 policy meeting.
• U.S. District Judge Jia Cobb previously found Trump’s removal of Cook unlawful and restored her to the board, stressing that governors can be dismissed only for cause and noting the public interest in Fed independence.
• Cook’s attorneys warned that sidelining a sitting governor on the eve of the meeting could disrupt the rate-setting process and pose risks for financial markets.
• Documents described by Reuters indicate Cook labeled an Atlanta property as a second or vacation home in 2021 mortgage paperwork, undercutting the basis of the White House’s fraud claim.
• Republican senators are pressing to confirm Fed nominee Stephen Miran, while market watchers widely expect a roughly quarter‑point rate cut at next week’s meeting.