The Federal Reserve’s policy making Federal Open Market Committee will convene on Tuesday with Lisa Cook remaining on the central bank’s Board of Governors and Stephen Miran temporarily filling a vacancy on that body.
A federal appeals court rejected President Trump’s attempt to fire Cook days after she was the target of accusations by Bill Pulte, the Federal Housing Finance Agency director, who claimed Cook committed mortgage fraud. Cook has not been charged with any crime and has challenged the presidential claim that Trump could fire her “for cause” based merely on Pulte’s accusations. The court ruled that based on “Cook’s strong likelihood of success on at least her due process claim, the government’s request for relief is rightly denied.”
Neither Trump nor Pulte offered an immediate comment on the court’s ruling. Trump has the option to take the case further to the US Supreme Court.
Joining Cook at Tuesday’s Fed meeting will be Miran, chairman of Trump’s Council of Economic Advisers, who was confirmed to fill the remainder of the term left when Fed Gov. Adriana Kugler. Miran was confirmed in a 48-47 vote that was mostly along party lines, with Alaska Sen. Lisa Murkowski as the sole Republican casting a negative vote. Miran stated he would take a leave of absence from his White House job while on the Fed board and will return to that job when his Fed term concludes at the end of January.
At this point in time the President & especially Pulte need to “let dead dogs lay”. If the Justice Department finds something in their investigation then maybe there is some tread on these tires to move forward. Regardless all this stuff needs to happen below the radar and no more mouthing off in the public sphere for the President and his attack dog Pulte. This confrontation is not good overall for the President’s image and political will now and in the future. I like the President’s boldness on most issues but not on this one. It’s time to be more statesman like going forward.
“This confrontation is not good overall for the President’s image and political will now and in the future. I like the President’s boldness on most issues but not on this one. It’s time to be more statesman like going forward.”
Really Greg?!? REAL conservatives don’t care one iota about what others think about Trump, or that he should be more “statesman like.” I’ve voted for him 3 times now BECAUSE he’s the pitbull politically that most Americans want. We’re sick and tired of how conservatives and Trump have been treated. Play time is OVER. Go vote for a democrat and be the RINO that you are.
They all should first investigate facts versus mouthing off and creating chaos as well as inuendo that defames someone’s reputation and future. The fact is Ms. Cook’s Georgia property loan shows to be a vacation home. So Pulte rushed to judgement to prove his loyalty to trump, a notorious lying litigator. They both deserve severe condemnation!!!!!!
This will come back to haunt these two guys.
TRUMP IS JUST SHOWING HIS FRUSTRATION ON THE FEDS LACK OF ACTION ON THE HIGH INTEREST RATE STRUCTURE, AND REFUSAL OF THE FED TO DO ANYTHING ABOUT IT. HE CAN’T BY LAW REMOVE THE FED CHAIR, THEREFORE FIRE THE VICE CHAIR OF THE FED. HE HAS MADE HIS POINT, AND HOPEFULLY INTEREST RATES WILL DROP SOON.
Let be clear on the facts. If the Fed lower rates it does not mean the interest rates will be lowered. So understanding the facts on how it works, interest rates are based on the 10 year treasury. And as long as goverment spending is going up as it is, we should not be lowering the Fed rate. Fact 2 Trump is going after Cook because he want to get his own people in the Fed to do what he said to do (lower rates). So he can say he did something. Because he couldn’t stop the 2 wars as he said he would in the first few days in office only made them worst. Fact 3 I don’t care who you voted for or how many times. Just look at the facts, gas, food and everything else is going up and it is not going to get better because we bring back a few manufacturing companies. He wants America to go back to 1970’s. While other countries are moving forward. So stay unwoke and eye closed. Not until it actually effects you it won’t matter. So sit and wait it will eventually.