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The Latest Breaking News from Stephen Miran

Trump Fed Pick Says He's 'Not At All' A 'Puppet' As Elizabeth Warren Warns Stephen Miran Would 'Take An Axe' To Central Bank Autonomy

President Donald Trump‘s Federal Reserve nominee Stephen Miran defended his independence during a contentious Senate Banking Committee hearing on Thursday, as Democrats warned his appointment could undermine the central bank’s autonomy over monetary policy decisions.

Benzinga

Trump's Fed Governor Pick Vows To Uphold Central Bank Independence

Donald Trump's pick to join the Federal Reserve's board of governors pledged to uphold US central bank independence if confirmed -- but was coy about leaving his current White House role in the process, as the institution faces growing pressure from the president to slash interest rates.

International Business Times

Fed nominee Miran tells senators he’ll be independent of Trump - Roll Call

Stephen Miran, who chairs the White House Council of Economic Advisers, says he won't resign even if confirmed to become a Fed governor.

Roll Call

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Fed independence ‘hangs by a thread’ after Trump moves to oust Lisa Cook

Efforts to oust Federal Reserve board member Lisa Cook and install allies could erode the bank’s autonomy, with consequences for inflation, market confidence and everyday borrowing.

Euronews

What would the Fed do in a tie vote? It's not clear, and the Bank of England had to break a deadlock this month

There have been three occasions when a vote on the FOMC passed by a one-vote majority, though the last time it occurred was in 1973.

Fortune

Trump news at a glance: president hints he already has replacement in mind for Fed governor Lisa Cook

Trump reportedly considering same aide he has nominated to serve out another Fed board member’s term. Key US politics stories from Tuesday 26 August

The Guardian - US

House panel says it will examine allegations against Fed's Cook - Roll Call

President Trump's firing of a Fed governor comes amid wider scrutiny of the central bank, including by a House Financial Services task force.

Roll Call

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Can President Trump Fire Fed Governor Lisa Cook?

Markets hate uncertainty, especially when it comes to monetary policy and interest rates, and questions about the Fed are compounding.

Kiplinger

Trump declares war on the Fed, setting up a titanic struggle for world's most important central bank

“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said.

Fortune

The Federal Reserve could start resembling the Supreme Court

Fed governors typically step down before their terms expire, but they may stay on until a president from their political party is in the White House.

Fortune

Fed official says she won't be 'bullied' by Trump into resigning

US president Donald Trump is seeking to influence central bank policy after repeatedly criticising chair Jerome Powell for not cutting the short-term interest rate.

Euronews

Stocks Decline Ahead of US Inflation News

The S&P 500 Index ($SPX ) (SPY ) Monday closed down -0.25%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.45%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.36%. September E-mini S&P futures (ESU25 ) fell -0.28%, and September E-mini Nasdaq futures (NQU25...

Barchart

Dollar Moves Higher Ahead of US CPI Report

The dollar index (DXY00 ) on Monday rose by +0.36% to a 1-week high. The dollar moved higher Monday as EUR/USD retreated after comments from Ukrainian President Zelenskiy dampened optimism of any quick resolution to the Russian-Ukrainian war when he rejected any talk of Ukraine ceding territory to Russia. Also,...

Barchart

September Fed Rate Cut? Goldman, JPMorgan Make The Same Call

Economic tremors ripple across financial markets as shifting global dynamics push major banks to alter their interest rate forecasts. J.P. Morgan now expects the Federal Reserve to cut interest rates by 25 basis points at its September meeting, moving up its forecast from December.

Benzinga

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Barchart

Stocks Turn Mixed Ahead of This Week's Key Inflation Reports

The S&P 500 Index ($SPX ) (SPY ) today is down -0.06%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.34%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.08%. September E-mini S&P futures (ESU25 ) are down -0.05%, and September E-mini Nasdaq futures...

Barchart

Dollar Gains on Euro Weakness

The dollar index (DXY00 ) today is up by +0.38% at a 1-week high. The dollar is moving higher today as EUR/USD retreated after comments from Ukrainian President Zelenskiy dampened optimism of any quick resolution to the Russian-Ukrainian war when he rejected any talk of Ukraine ceding territory to Russia....

Barchart

Stocks Supported by Fed Rate Cut Speculation and Strength in Chip Makers

The S&P 500 Index ($SPX ) (SPY ) today is up +0.06%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.11%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.04%. September E-mini S&P futures (ESU25 ) are up +0.04%, and September E-mini Nasdaq futures...

Fortune

The ‘Fed put’ is back: If Tuesday’s inflation report is bad expect chaos in the markets

Investors think the Fed will almost definitely cut interest rates in September, and they are hoping that the consumer price inflation report—due tomorrow—won’t show a significant rise in inflation.

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AAP

Hopes RBA won't repeat shock rates hold as board meets

The "Trumpification" of the US Federal Reserve provides an unsettling backdrop to the Reserve Bank's August meeting, where it is expected to cut interest rates.

Fortune

Trump’s pick for the Fed ‘fuels an existential threat’ as central bank independence is targeted, JPMorgan says

“The main threat to the Fed independence is not politically motivated turnover shifting the outcome of votes.”

Barchart

Stocks Settle Higher on Solid Earnings and Hopes for a Ukraine Peace Deal

The S&P 500 Index ($SPX ) (SPY ) Friday closed up +0.78%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.47%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.95%. September E-mini S&P futures (ESU25 ) rose +0.84%, and September E-mini Nasdaq futures (NQU25...

Benzinga

Apple Notches Best Week In Years, Trump Shakes Fed Leadership: This Week In Markets

After last week's declines, triggered by a weaker-than-expected jobs report and a June inflation uptick, Wall Street rebounded with strong gains as earnings momentum remained robust.

Barchart

Dollar Pressured by Expectations of a More Dovish Fed

The dollar index (DXY00 ) on Friday fell by -0.20%. The dollar moved lower on Friday but remained above Thursday's 1.5-week low. The dollar was under pressure after President Trump late Thursday nominated Stephen Miran to be a temporary replacement for Adrianna Kugler as Fed Governor. Miran is currently chairman...

Evening Standard

FTSE 100 edges down despite hopes of end to Russia-Ukraine war

Barchart

Stocks Rally on Positive Earnings and Hopes for an End to Russia-Ukraine War

The S&P 500 Index ($SPX ) (SPY ) today is up +0.59%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.33%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.70%. September E-mini S&P futures (ESU25 ) are up +0.54%, and September E-mini Nasdaq futures...

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