The Latest Breaking News from Lisa Cook

Central bank moves to set rates at range between 4 and 4.25% but decision unlikely to satisfy Donald Trump

The central bank’s widely-expected 0.25% cut comes amid a cooling labour market, which has stalled economic growth.

The US Federal Reserve is poised to make its first interest rate cut of 2025 on Wednesday, but it battles competing forces in the path forward -- with heightened political pressure and likely divisions among its ranks.

The US Federal Reserve started a key interest rate meeting Tuesday, hours after Donald Trump's new appointee narrowly won confirmation to join the central bank -- while another top official fights her removal by the president.

Mortgage fraud is back in the news. Lisa Cook, a Federal Reserve governor, is being investigated by the Department of Justice for allegedly making false statements when applying for a mortgage. Members of Donald Trump’s Cabinet are accused of similar wrongdoings. Could any of these people go to prison?

The commission also accused Benjamin Netanyahu of inciting genocide. Plus, Donald Trump files $15bn lawsuit against the New York Times

Markets will move on Wednesday after Wall Street parses Cook’s statement and his Q&A for clues about future rate cuts beyond Wednesday.

Trump failed to oust Fed Governor Lisa Cook and is unlikely to get the steep rate cut he demands, as Powell and the FOMC weigh weaker jobs data.

Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.