Politics
President Trump move to fire Fed governor Lisa Cook could end up being challenged at the Supreme Court if her lawyer Abbe Lowell prevails
In July, CFPB funding cut in half by Big Beautiful Bill. In August, court allows mass firings to resume.
Treasury chief Scott Bessent says Fed Funds Rate should be 1.5% to 1.75% lower, predicts .5% cut Sept 17, teases up to 11 Powell replacements
Stephen Miran, chair of Trump's Council of Economic Advisors, nominated to open Fed governor role. How fast can he be confirmed and how long could he serve?

Investors universally disagree with firing head of crucial U.S. economic data provider. Here are some of their responses.
Trump approves The Late Show sign for Powell’s new Fed building. Just joking, but admit it: "The Late Show" is a better Trump nickname for Powell than "Too Late."
Is the Fed succeeding at it's dual mandate of low prices and low unemployment? Besset says the Fed should be examined to make sure.
U.S. tax & spending bill expected to add $3+ trillion to deficit next 10yrs. Will it set off debt spiral that ends Fed independence?
This interactive NYT post has handy Yes/No questions to see how new Trump bill hits your wallet, taxes, business, healthcare, student loans.
Roundup of key stats on Trump’s use of executive orders to lead, and how this compares to his peers
Goldman Sachs bond leader says inflation bigger threat than recession for now
Today’s softer than expected CPI feels backward looking. Going forward the Fed is likely to face a difficult trade-off as tariff-driven price increases start to feed through to the inflation data. We expect the Fed’s initial reaction to be cautious.
Tariffs pose both inflation and recession risks, complicating Fed cut (dovish) or hike (hawkisk) decisions. Minneapolis Fed president Neel Kashkari skews on side of hawkish pause.
Trump nominated former FDIC board member and senior FHFA policy counsel Jonathan McKernan as CFPB director, pending quick Senate confirmation
Former Treasury Secretaries Rubin, Summers, Geithner, Lew, Yellen detail “the risks of arbitrary and capricious political control of federal payments” by DOGE
Trump administration ordered Consumer Financial Protection Bureau to stop nearly all work, effectively shutting down agency created to protect consumers after 2008 financial crisis

