Trump moves to fire Fed's Lisa Cook as she vows to sue
President Trump said Monday he has fired Lisa Cook from the Federal Reserve's Board of Governors. Her attorney countered that they plan to file a lawsuit challenging the move.
Federal Reserve
Trump clashes with Fed board member Lisa Cook
A standoff is brewing between President Trump and economist Lisa Cook. Mr. Trump tried to fire her, claiming "there is sufficient cause" to believe that Cook made false statements on one or more mortgage agreements. Cook fired back that "President Trump has no authority to remove her" from the independent Federal Reserve and vowed to file suit. Nancy Cordes reports.
Questions about Trump move to fire Lisa Cook
President Trump has taken his fight with the Federal Reserve to another level, demanding the removal of one of the Central Bank's governors. Overnight, Trump posted an apparent termination letter online, saying that he removed Lisa Cook over allegations that she committed mortgage fraud. But there are questions about Mr. Trump's authority to remove Cook. CBS News' Aaron Navarro and Jo Ling Kent break the situation down.
New Federal Reserve statement on Trump, Cook
The Federal Reserve on Tuesday issued a new statement regarding President Trump's move to fire Fed Governor Lisa Cook. CBS News MoneyWatch correspondent Kelly O'Grady has the latest.
Trump comments on Taylor Swift, takes questions
President Trump took questions on a host of issues following his Cabinet meeting Tuesday at the White House, speaking about the Federal Reserve, his crime crackdown in Washington, D.C., Taylor Swift and Travis Kelce's engagement and more.
Trump move to fire Fed governor: What we know
President Trump announced his firing of Federal Reserve Governor Lisa Cook on Monday following months of public attacks against the central bank. Cook and her attorney responded Tuesday saying the president has no legal basis for the move and that they plan to file a lawsuit challenging the firing. CBS News' Olivia Rinaldi and Jo Ling Kent have more.
Details on Trump's Fed firing
President Trump said he fired Fed Reserve Governor Lisa Cook in a social media post on Monday that included her apparent termination letter, where Mr. Trump alleges that Cook committed mortgage fraud. In response, Cook says no cause exists "under the law" for her firing. CBS News' Natalie Brand has more details.
Can Trump fire Fed Reserve Gov. Lisa Cook?
President Trump posted an apparent termination letter to Federal Reserve Governor Lisa Cook on social media Monday. Cook responded that she is not resigning from her post. CBS News' Ed O'Keefe has more details.
Trump says he fired Fed Reserve's Lisa Cook
President Trump said he fired Lisa Cook from the Federal Reserve's Board of Governors in a social media post on Monday, where he also shared an apparent termination letter. Cook says that she will not resign. CBS News Natalie Brand has the latest from the White House.
Trump says he's fired Fed Governor Lisa Cook
President Trump announced Monday that he's fired Federal Reserve Governor Lisa Cook after months of public attacks against the central bank. In a letter posted on social media, Trump accused Cook of making false statements on mortgage documents, actions he claimed were "gross negligence" and "potentially criminal."
The Fed's Powell is worried about the job market. Here are 3 red flags.
Federal Reserve Chair Jerome Powell cited risks to the labor market in opening the door to cutting interest rates. Here's what job-seekers should know.
Author Jonathan Levy on U.S. economy outlook
Author and historian Jonathan Levy joins "The Takeout with Major Garrett" to discuss how his 2021 book "Ages of American Capitalism" has economic themes that have magnified in today's economy. He also dives into the history of the Federal Reserve, and shares how AI and cryptocurrency can impact the capitalism system as we know it.
Stocks skyrocket after Powell speech
Federal Reserve Chair Jerome Powell gave a speech that sent all three stock indexes soaring. Traders excavated clues of an interest rate coming. Archie Hall, U.S. economics editor for The Economist, joins "The Takeout" to discuss.
Dow Jones soars over 800 points
Investors reacted to a major speech from Federal Reserve Chair Jerome Powell, offering his strongest indication yet that interest rates may be coming. Paul La Monica, senior market analysis writer for Barron's, joins CBS News to discuss.
Trump calls on Fed governor to resign after mortgage fraud allegations
President Trump called on Fed Governor Lisa Cook to resign on Wednesday after one of his appointees accused her of mortgage fraud.
Powell signals potential interest rate cuts
Federal Reserve Chair Jerome Powell signalled a potential path to interest rate cuts in the future. Akin Oyedele, a deputy editor of newsletters at Business Insider, joins CBS News with more.
Fed Chair Jerome Powell signals path to rate cuts at Jackson Hole
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
Stock futures tilt up ahead of Fed chief Jerome Powell's Jackson Hole speech
Investors will be closely eyeing Powell's speech in Jackson Hole on Friday to see if the Fed chair hints at a potential rate cut at the central bank's next meeting.
Fed Chair Powell faces delicate balancing act in Jackson Hole speech
Jerome Powell will address the state of the U.S. economy — and perhaps offer hints about interest rates — in a closely watched speech on Friday.
Trump calls on resignation of Fed governor
President Trump is calling on Federal Reserve Governor Lisa Cook to resign with his administration accusing her of mortgage fraud. Former Treasury official Kitty Richards joins "The Takeout" to discuss.
Breaking down Trump's economic actions
A new Wall Street Journal article says that President Trump is emulating the Chinese Communist Party by extending political control deep into the economy. Barry Naughton, a professor from the University of California, San Diego, joins "The Takeout" to discuss the article.
Key takeaways from July's inflation report
Inflation in July rose 2.7% on an annual basis, which was slightly less than economists had forecast, according to a report released Tuesday. CBS News senior business and technology correspondent Jo Ling Kent breaks down the numbers.
Top Trump economic adviser on new tariffs
President Trump's new tariffs on dozens of countries will go into effect on Aug. 7. Kevin Hassett, director of the National Economic Council, joins "The Takeout" to discuss the potential impact on the economy.
Federal Reserve governor to step down from role early
Adriana Kugler will resign from her role as a Federal Reserve governor — opening up a vacancy on the board as President Trump pressures the Fed to slash interest rates.
Trump working to finalize more trade deals
The Trump's administration is working to finalize more trade deals before the president's self-imposed August 1 tariff deadline. CBS News White House reporter Willie James Inman has more on that and President Trump's ongoing war of words with Fed Chair Jerome Powell.
Trump briefed on military, cyber, psychological options for Iran, sources say
President Trump has been briefed on a wide array of military and covert tools that can be used against Iran that go well beyond conventional airstrikes, Pentagon officials said.
Iran's exiled crown prince urges Trump to intervene soon so regime "finally collapses"
In an interview with CBS News' Norah O'Donnell on Monday, Iran's exiled Crown Prince Reza Pahlavi said, "We need action to be taken."
Lawmakers to visit Denmark as Trump threatens to take over Greenland
President Trump's remarks about taking Greenland by military force have prompted bipartisan criticism from lawmakers who have said they do not support acquiring the Danish territory in such a way.
Trump slaps 25% tariffs on any countries that do business with Iran
President Trump said Monday he's imposing 25% tariffs on all countries that do business with Iran, as the administration pressures the Iranian government amid anti-regime protests.
Deputy to Lindsey Halligan fired over James Comey case
Lindsey Halligan's deputy in the U.S. attorney's office in the Eastern District of Virginia, Robert McBride, was fired after refusing to lead the prosecution of James Comey, a source said.
Minnesota, Twin Cities file lawsuit in effort to stop ICE surge in state
The state of Minnesota, along with the cities of Minneapolis and St. Paul, are suing Department of Homeland Security Secretary Kristi Noem and other federal officials in an effort to stop the surge of federal law enforcement officials coming into the state.
Colorado Gov. Polis on "pro-freedom" vaccine stance, fraud claims from Trump
"We have rights. Fundamental rights," Polis said. "When you're minding your business and doing your own thing, really, the government shouldn't interfere."
Warren says Congress could work with Trump to cap credit card rates
Sen. Elizabeth Warren, a progressive Democrat from Massachusetts, said she told President Trump Congress could cap credit card rates if he pushes for it.
Former U.S. Navy sailor gets more than 16 years for selling secrets to China
Patrick Wei, a former U.S. Navy sailor who sold manuals for ships and operating systems to an operative working for China, was sentenced to more than 16 years in prison, prosecutors said.