President Donald Trump has established a new White House committee to investigate allegations that Federal Reserve Governor Lisa Cook made false statements in mortgage applications. The committee will examine whether those allegations provide legal grounds for removing her from office. The presidential memorandum, dated October 7 and publicized October 9, schedules a closed hearing for … Read more
Federal Reserve Vice Chair for Supervision Michelle Bowman said September 18 that the central bank expects to finalize changes to its bank stress-testing framework within weeks. The plan would disclose more about the models and scenarios used in the tests and would change how some large banks’ capital requirements are calculated. The proposal is part … Read more
The Federal Reserve kept rates at 3.50% to 3.75% in a divided vote as stocks fell and long-term Treasury yields rose.
What Happened On June 29, the Supreme Court issued two rulings on the same day, both written by Chief Justice Roberts, addressing whether Trump can fire members of independent federal agencies. In Trump v. Slaughter, the Court ruled 6-3 that Trump could fire FTC Commissioner Rebecca Slaughter, overturning the 1935 precedent Humphrey’s Executor v. United … Read more
