Appeals court rules Lisa Cook can remain on Federal Reserve Board for now

[Hol]

federal appeals court on Monday ruled Federal Reserve Governor Lisa Cook can remain on the panel while litigation over President Donald Trump's attempts to fire her plays out.

The Trump administration last week appealed a lower court's ruling that allowed Cook to retain her position on the board of governors. The judge ruled that the allegations of mortgage fraud would likely prove insufficient to justify her dismissal.

Cook is accused of mortgage fraud for allegedly listing a secondary residence as a primary residence. Federal Housing Finance Agency Director Bill Pulte filed a criminal referral to the Justice Department to alert them of the issue.

The appeals court sided with the lower court's ruling in a split 2-1 ruling, according to CNN, ruling that U.S. District Judge Jia Cobb was correct in her assessment that Cook would likely be successful at this stage in two of her claims, including Cook's claim that the firing violated the Federal Reserve Act’s “for cause” provision.

Appeals court rules Lisa Cook can remain on Federal Reserve Board for now

Cook is accused of mortgage fraud for allegedly listing a secondary residence as a primary residence. Federal Housing Finance Agency Director Bill Pulte filed a criminal referral to the Justice Department to alert them of the issue.

justthenews.com

 

[Hol]

Both Miran and Cook Are in Attendance​

The Fed kicked off its two-day policy meeting at 10:30 a.m. with both Stephen Miranand Lisa Cook in attendance.

The Senate confirmed Miran as a Fed governor in a 48-47 vote Monday night, approving President Trump’s nominee on the eve of the central bank’s policy meeting. He was sworn into office this morning.

Miran, a top economic advisor in the White House who has pledged to take unpaid leave from his post in the administration while serving at the Fed, will replace former governor Adriana Kugler, who left the board last month. He will serve through the remainder of her term that ends in January 2026.

Both Miran and Cook Are in Attendance

The Fed kicked off its two-day policy meeting at 10:30 a.m. with both Stephen Miran and Lisa Cook in attendance. The Senate confirmed Miran as a

www.barrons.com

 

[Hol]

Which Stocks Would Benefit From Fed Rate Cuts? Watch the 2-Year Yield.
Stocks should extend their record-setting rally deep into next year, fueled by a series of Fed rate cuts that—by most accounts—will begin this week.

Watch 2-Year Yield to See Which Stocks Benefit from Fed Rate Cuts, Analyst says

Fed rate cuts might not lift stocks evenly, especially if growth slows sharply into year-end.

www.barrons.com

 

[mattfivefour]

The President's attempt to fire Lisa Cook is headed to SCOTUS. And based on the appeals court's split decision and the very strongly worded dissent by Judge Gregory Katsas, legal watchers believe the Supreme Court will most likely reverse the lower courts and reinstate the firing.

Breitbart Business Digest

link.breitbart.com