Fed Governor Waller Says Crypto Crashes Are Normal, Reminds Market Bitcoin Once Seemed "Crazy" at $10,000 Federal Reserve official offers historical perspective on cryptocurrency volatility amid ongoing market turbulence

READ: Fed Governor Waller Says #Crypto Crashes Are Normal, Reminds Market #Bitcoin Once Seemed "Crazy" at $10,000

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Trump filed a LOSER emergency "shadow docket" petition to #SupremeCourt to try for the THIRD time to FIRE #FedGovernor #LisaCook without proper cause or #DueProcess, timing it to try to step on a TERRIBLE news cyle #KashPatel flameout, @jimmykimmel.com backlash and #Epstein
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Trump renews effort to fire Fed Governor #LisaCook before the #centralbank’s key rate vote, raising concerns over #Fedindependence and legal precedent.
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Judge temporarily halts firing of Fed governor Lisa Cook — The Washington Post Biden appointee made a ‘strong showing’ that Trump’s attempt to fire her was illegal, court says

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Trump’s Fed pick grilled over his ability to distance himself from the president | CNN Business Stephen Miran, the White House economist President Donald Trump nominated to the Federal Reserve’s top ranks, just got an earful about the importance of the central bank’s independence – just as the T...

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Marshall: Fed Governor Lisa Cook’s controversy As Attorney General, I’ve taken the statement “no one is above the law” as a fundamental core value, applied equally to all. As a U.S. Senator, I will ensure the Senate’s ‘Advice and Consent’ role extends beyond confirmations, holding officials accountable for honest disclosures and ethical conduct. Take, for instance, the current controversy surrounding Federal […] The post Marshall: Fed Governor Lisa Cook’s controversy appeared first on Alabama Daily News.

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Why is the stock market shrugging off Trump's attempted firing of Fed governor Lisa Cook? - ABC News Why is the stock market shrugging off Trump's attempted firing of Fed governor Lisa Cook?  ABC News

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Fed governor, CDC director turn to top Washington lawyer in Trump fights By Mike Scarcella (Reuters) -A prominent Washington lawyer who launched a new firm this year to represent officials targeted by President Donald Trump is quickly gaining new clients, including Federal Reserve Governor Lisa Cook and U.S. Centers for Disease Control and Prevention Director Susan Monarez. Abbe Lowell, whose clientele includes Hunter Biden and New York Attorney General Letitia James, filed a lawsuit on Thursday on Cook’s behalf, alleging Trump’s effort to fire her over mortgage fraud allegations is unlawful. Monarez this week also turned to Lowell, along with fellow longtime Washington lawyer Mark Zaid, after the White House said on Wednesday she was being fired. Lowell and Zaid in a statement accused Health and Human Services Secretary Robert F. Kennedy Jr. of targeting Monarez for refusing to support "unscientific directives" and dismiss health experts. Zaid, known for his legal work on national security matters and for whistleblowers, is also a plaintiff in a lawsuit Lowell filed on his behalf in May after the Trump administration stripped Zaid of his U.S. security clearance. Cook was appointed by Democratic former President Joe Biden in 2022 and is the first African-American woman to serve on the U.S. central bank’s governing body. Trump in a letter announcing his move to fire Cook on Monday said he had "sufficient cause to remove you from your position" because in 2021 she had indicated on documents for separate mortgage loans on properties in Michigan and Georgia that both were a primary residence where she intended to live. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Cook has denied wrongdoing and has not been charged. In Cook’s lawsuit, Lowell and attorney Norm Eisen, who served as co-counsel for the U.S. House of Representatives Judiciary Committee in the first impeachment of Trump in 2020, called the Republican president’s bid to remove Cook from the politically independent Fed "unprecedented and illegal." Monarez has so far not filed a lawsuit over her attempted ouster from the CDC. NEW FIRM Lowell was a partner at major U.S. law firms before announcing in May that he was opening his own firm to represent government officials under fire by the Trump administration. He represented Biden’s son Hunter against criminal gun and tax charges before he was pardoned in December. He has also represented former Democratic U.S. Senator Bob Menendez, failed Democratic U.S. presidential candidate John Edwards, Trump’s daughter Ivanka Trump, and Trump’s son-in-law Jared Kushner. New York’s attorney general James hired Lowell after the Trump administration referred her to the Justice Department for allegedly falsifying real estate records. James has denied the allegations. His new firm employs two former lawyers at Skadden Arps who quit over its response to Trump’s executive orders targeting the legal profession. Skadden is one of nine law firms that cut deals with the administration to avoid Trump’s crackdown on firms he accused of "weaponizing" the legal system, while four other firms successfully sued. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. The best opportunities often hide in plain sight—buried among thousands of stocks you'd never have time to research individually. That's why smart investors use our Stock Screener with 50+ predefined screens and 160+ customizable filters to surface hidden gems instantly. For example, the Piotroski's Picks method averages 23% annual returns by focusing on financial strength, and you can get it as a standalone screen. Momentum Masters catches stocks gaining serious traction, while Blue-Chip Bargains finds undervalued giants. With screens for dividends, growth, value, and more, you'll discover opportunities others miss. Our current favorite screen is Under $10/share, which is great for discovering stocks trading under $10 with recent price momentum showing some very impressive returns!

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Fed Governor Cook sues Trump over his attempt to fire her By Daniel Wiessner (Reuters) -Federal Reserve Governor Lisa Cook filed a lawsuit on Thursday claiming U.S. President Donald Trump has no power to remove her from office, setting up a legal battle that could reset long-established norms for the U.S. central bank’s independence. Cook’s lawsuit said Trump violated a federal law allowing him to remove a Fed governor only "for cause" when the Republican president took the unprecedented step on August 25 of announcing he would fire her. Trump has accused Cook of committing mortgage fraud in 2021, a year before she joined the central bank’s governing body. But Cook’s lawsuit said an unsubstantiated allegation about conduct that took place before she was confirmed to her position at the central bank does not amount to cause. "President Trump’s conception of ’cause’ has no limiting principle; it would allow him to remove any Federal Reserve Board member with whom he disagrees about policy based on chalked-up allegations," her lawyers wrote in the lawsuit. The lawsuit also accused Trump of violating her right to due process under the U.S. Constitution by firing her without notice or a hearing. The case is likely headed to the Supreme Court, where a conservative majority has at least tentatively allowed Trump to fire officials from other agencies, though it recently signaled the Fed may qualify for a rare exception from direct control by the president. Concerns about the Fed’s independence from the White House in setting monetary policy could have a ripple effect throughout the global economy. The U.S. dollar stumbled against other major currencies after Trump first said he would remove Cook. It was trading lower on Thursday as traders added to bets that the Fed would cut interest rates next month. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. A Fed spokesperson said on Tuesday, before the lawsuit was filed, that the Fed would abide by any court decision. The Fed did not immediately respond to a request for comment on Thursday. Cook was appointed to the Fed in 2022 by Democratic former President Joe Biden and is the first Black woman to serve as a Fed governor. Trump earlier this year also fired Gwynne Wilcox, the first Black woman to sit on the National Labor Relations Board, which hears private-sector labor disputes. Trump also has dismissed a slew of officials from other agencies that have long been treated as independent from the White House. PRESSURE CAMPAIGN The law that created the Fed does not define "cause" or lay out any standard or procedures for removal. No president has ever removed a Fed board member, and the law has never been tested in court. Several federal laws requiring the president to have cause before removing members of other agencies say that the term can include neglect of duty, malfeasance, and inefficiency. Those laws could be a guide for courts to determine if Trump had cause to fire Cook. Questions about Cook’s mortgages were first raised in August by William Pulte, a Trump appointee who is the director of the Federal Housing Finance Agency. Pulte referred the matter to Attorney General Pamela Bondi for investigation. Cook took out the mortgages in Michigan and Georgia in 2021 when she was an academic. An official financial disclosure form for 2024 lists three mortgages held by Cook, with two listed as personal residences. Loans for primary residences can carry lower rates than mortgages on investment properties, which are considered riskier by banks. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Some experts have questioned whether transactions that preceded Cook’s appointment to the Fed and were in the public record when she was vetted and confirmed by the U.S. Senate could amount to adequate cause to remove her. The Trump administration could also argue that giving Fed governors any protections from removal violates the president’s broad constitutional powers to control the executive branch, as it has in lawsuits filed by other ex-officials. Trump in an August 25 letter to Cook accused her of having engaged in "deceitful and criminal conduct in a financial matter" and said he did not have confidence in her integrity. Cook’s departure would allow Trump to name his fourth pick to the Fed’s seven-member board. The president has repeatedly berated Fed Chair Jerome Powell for not lowering rates and over his alleged mishandling of a multibillion-dollar renovation project, though he has halted threats to remove Powell before his term as central bank chief ends in May. The Trump administration has also targeted political opponents, including U.S. Senator Adam Schiff and New York Attorney General Letitia James, with similar accusations of mortgage fraud. Schiff and James have denied wrongdoing. AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?

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Fed Governor Lisa Cook Rejects Trump's Attempted 'Firing By Tweet' - uPolitics On Monday, President Donald Trump announced that he is firing Lisa Cook, a governor of the Federal Reserve. Trump has been putting increasing pressure on the central bank to lower interest rates. He h...

Fed Governor Lisa Cook Rejects Trump's Attempted 'Firing By Tweet'

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Factbox-Fed Governor Cook’s mortgages: What’s known and what’s not (Reuters) -U.S. President Donald Trump says he is removing Federal Reserve Governor Lisa Cook for "cause," citing what he said were "false statements" on two mortgages she took out in 2021, about a year before the Senate confirmed her appointment to the Fed. The thrust of Trump’s accusation - first made public by Federal Housing Finance Agency Director William Pulte in a criminal referral to Attorney General Pam Bondi’s office - is that Cook misrepresented her residency status for the loans, claiming both as her primary residence. Cook, in a statement issued through the law office of Abbe Lowell, says she will not leave her job and that Trump has no authority to fire her "when no cause exists under the law." Her lawyer says they will file a lawsuit to challenge the attempted removal. Cook did not respond to queries on the details of her mortgages. Here is what is known, and not known, about the mortgages. PROPERTIES Cook’s annual financial disclosure, filed with the U.S. Office of Government Ethics, shows one mortgage for an investment property and two mortgages for personal residences. All were dated 2021, when the Georgia native was a professor at Michigan State University and before her May 2022 confirmation by the Senate to the Fed Board of Governors. The loans were originated about 15 months into the COVID-19 pandemic when interest rates had plunged due to the Fed’s efforts to support the economy during the health crisis. Tens of millions of homeowners refinanced existing loans or obtained new mortgages during that period. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. TWO ’PRIMARY’ RESIDENCES Cook’s mortgage paperwork does identify two different properties as her primary abodes. A public records search identified a $203,000 mortgage in Cook’s name in Washtenaw County, Michigan dated June 18, 2021, and a $540,000 mortgage, also in her name, in Fulton County, Georgia, dated July 2, 2021. The mortgages were originated by the University of Michigan Credit Union for the Michigan property and Bank Fund Credit Union for the Georgia property. Spokespersons for the two credit unions did not reply immediately to a request for comment. Documentation for both contains an identical occupancy clause that requires the borrower to, within 60 days, "occupy the property as borrower’s principal residence for at least one year after the date of occupancy, unless lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond borrower’s control." It is not known if Cook obtained such an agreement, if there were extenuating circumstances, or whether or for how long she occupied either property. WHY DOES IT MATTER? Mortgages obtained for primary residences can come with cheaper financing than those for investment properties, which have a higher default rate and are typically subject to tighter underwriting by lenders. A study published in 2023 by the Philadelphia Fed found that occupancy fraud - misrepresenting a property as owner-occupied when it is intended as a rental property - is widespread. It was not known if Cook’s properties were intended to be owner-occupied. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. "The real question to ask here was, was there any misleading of lenders," Cornell University Law Professor Robert Hockett said. "If the lenders knew... and they were able to factor that in in order to risk-price the lending, then that’s above board." THE BORROWING RATES In fact, the mortgage rates Cook obtained were higher than the prevailing national averages at the time. It is not known when Cook locked in her mortgages, but typically borrowers fix their rate a month or two before the purchase. Cook’s financial disclosure shows one personal residence mortgage of $100,001-$250,000. Though the address is not specified, it is the same 15-year borrowing term as on her $203,000 Ann Arbor, Michigan, mortgage. From the beginning of April to early July, the national average for the 15-year rate ranged from 2.23% to 2.45%. Cook’s rate was 2.875%. Her financial disclosure identifies a second loan for a personal residence for $500,001-$1 million. Again the address is not listed but the value and term of the loan matches her $540,000 mortgage on her Atlanta, Georgia condominium. The national average for a 30-year fixed rate mortgage ranged from 2.93% to 3.04% from April 15, 2021 to July 1, the day before she signed the mortgage, Freddie Mac data shows. Cook’s rate was 3.25%. Fraud, Cornell’s Hockett said, is generally "either affirmatively misrepresenting, or failing to disclose...such as to lead someone into taking a risk they wouldn’t otherwise risk, or give you something other than they would otherwise give you...the very fact that they didn’t give her an advantageous rate suggests they were informed." 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. WHY THOSE CITIES Public records show that Cook first bought the Ann Arbor home in 2005, when she first got her job as a professor at Michigan State University in nearby East Lansing. Cook was born in Georgia and graduated from Spellman College in Atlanta. It is not known when or for how long she lived in Atlanta. MSU transitioned to remote teaching during the COVID-19 pandemic starting in March 2020, and returned to mostly in-person teaching in the fall of 2021. Successful investors know to check multiple angles before making their move. 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Stock Market Today: Dow Wavers After Trump Moves to Oust Fed Governor Cook— Live Updates - The Wall Street Journal Stock Market Today: Dow Wavers After Trump Moves to Oust Fed Governor Cook— Live Updates  The Wall Street Journal

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Post: My Thought for TodayAlthough we welcome everyone who wants to contribute, where are our young... My Thought for TodayAlthough we welcome everyone who wants to contribute, where are our young serious minded black content creators who are authentic and passionate about black unity and empowerment in America? If its all about the money and you really dont care about the mental, physical, social, or economic health or advancement of black people, stay where youre at. Were not trying to compete with or follow popular social media platforms; we are building something different and unique that is for us, by us.

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Trump fires Fed Governor Cook over alleged mortgage fraud Updates at 20:37 ET (00:37 GMT) with additional context on Trump, the Fed Investing.com-- U.S. President Donald Trump said on Monday evening that Federal Reserve Governor Lisa Cook was to be removed from her post, effective immediately, alleging that she made false statements in two mortgage applications. Cook’s removal represents a fresh attack by Trump on the Fed, amid repeated calls from the president that the central bank cut interest rates immediately. But her removal is also expected to spark a high-profile legal battle that could keep her in office until a verdict is reached. Trump, in a letter released to social media, said that there is “sufficient cause” for Cooke’s removal. “There is sufficient reason to believe (Cook) may have made false statements on one or more mortgage agreements,” Trump said in a letter, alleging that Cook declared two separate properties as her primary residences in two separate mortgage agreements signed within weeks of each other. The allegations against Cook were raised earlier in August by Federal Housing Finance Agency Director William Pulte. Pulte said that Cook had designated a condo in Atlanta as her primary residence after taking a loan on her home in Michigan, which she had earlier declared as a primary residence. He then called on U.S. Attorney General Pam Bondi to investigate, with Trump jumping on the allegation. Trump in his letter said it was “inconceivable” that Cook was not aware of both commitments. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Cook– the first black woman to be appointed to the Fed board– had denied Pulte’s allegations, then stating she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.” Reports earlier this week showed Trump was seeking to fire Cook, as the president attempts to gain more influence over the Fed. He had repeatedly called for Cook’s removal, on social media. Cook is one of three Biden-era Fed appointees whose terms extend beyond Trump’s second administration, which could complicate the president’s attempts to gain more influence over the central bank. Two of the Fed’s seven-member rate-setting board were nominated by Trump, as was Chair Jerome Powell, who has largely rejected the president’s calls for more interest rate cuts. Rate cuts appear to be at the heart of Trump’s attempts to gain more influence in the Fed, with his two other appointees to the board– Governor Christopher Waller and Vice Chair for Supervision Michelle Bowman– voting in favor of a rate cut during the Fed’s July meeting. Trump has also attempted to fire Powell by alleging mismanagement of funds during a major renovation of the Fed’s offices, which the Fed Chair largely denied. Powell, during his final address at the Jackson Hole Symposium last week, acknowledged that the central bank was warming up to the idea of more rate cuts, amid some cooling in the labor market. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. The Trump administration has probed several perceived political enemies using mortgage fraud investigations, including Democratic New York State Attorney General Letitia James, and Democratic U.S. Senator Adam Schiff. Successful investors know to check multiple angles before making their move. InvestingPro's three powerful features work together to give you that edge: ProPicks AI runs 80+ stock-picking strategies, including Tech Titans, which doubled the S&P 500's performance in just 18 months! Fair Value combines 17 proven valuation models to help you spot overpriced stocks and undervalued gems. And WarrenAI delivers instant insights on any stock. Ask questions, get vetted answers backed by real-time data (unlike ChatGPT). Our subscribers use all three to identify stocks before double-digit gains and avoid costly mistakes. But with 50% during our Summer Sale, even if you only use one of these features the value pays for itself. Sale ends soon—don't wait until prices go back up.

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Futures higher, Trump names Fed governor pick - what’s moving markets Investing.com - U.S. stock futures tick up ahead of the final trading day of the week. President Donald Trump names a close adviser as his pick to be a temporary Federal Reserve governor. Elsewhere, contract chipmaker TSMC’s sales spike in July, while artificial intelligence investments spur shares in Japan’s SoftBank (TYO:9984) to an all-time high. 1. Futures rise U.S. stock futures pointed higher on Friday, as investors digested Trump’s new selection to temporarily fill a vacancy on the Fed’s Board of Governors and assessed an ebbing stream of corporate earnings. By 02:56 ET (06:56 GMT), the Dow futures contract had risen by 57 points, or 0.1%, S&P 500 futures rose by 11 points, or 0.2%, and Nasdaq 100 futures advanced by 43 points, or 0.2%. The main averages on Wall Street ended in mixed fashion on Thursday, with the benchmark S&P 500 and blue-chip Dow slipping and the tech-heavy Nasdaq Composite edging up following a choppy session. Traders were pouring over muddled economic data. Fresh "ominous" signs for the labor market and an uptick in a gauge of inflation expectations were offset partially by healthy second-quarter productivity, analysts at Vital Knowledge said in a note. Debate also swirls around the trajectory of U.S. interest rates. While several Fed officials this week have signaled a willingness to cut borrowing costs at the central bank’s next meeting in September, one member -- Atlanta Fed President Raphael Bostic -- cautioned that there may only room for just the one reduction this year. 2. Trump nominates new Fed governor Against this backdrop, Trump announced on Thursday that his top economic adviser, Stephen Miran, will be his pick to take an empty governor seat at the Fed. If confirmed by Senate lawmakers, Miran would have the ability to vote on upcoming interest rate decisions. Notably, Miran has been a consistent supporter of Trump, who has himself been deeply critical of a decision by the Fed and its Chair Jerome Powell not to quickly ratchet down rates. Miran, who previously served in the Treasury Department during Trump’s first term and also worked as a senior strategist at a hedge fund, has particularly argued that sweeping U.S. tariffs will not massively drive up inflation domestically and the costs of the levies will instead fall mostly on overseas suppliers. Some economists have disputed the theory, however. The nomination comes after Adriana Kugler abruptly stepped down from the role as a Fed governor last week, prior to her term’s expiration date in January. Trump has said Miran will serve in the role temporarily, but hinted that it could be extended. "We will continue to search for a permanent replacement," Trump said in a social media post. Crucially, that person could be the one who eventually replaces Powell after his term at the head of the Fed ends next year. 3. TSMC July sales Taiwan Semiconductor Manufacturing Co (TW:2330) (TSMC) on Friday announced a 26% increase in its sales in July, indicating that artificial intelligence-fueled demand for its advanced chips remained sound. TSMC said its sales last month rose 25.8% versus a year ago to T$323.17 billion ($10.8 billion). Sales also grew 22.5% from June. The chipmaker, which is a key supplier to major AI processor developers such as Nvidia (NASDAQ:NVDA), has delivered stellar sales growth so far in 2025, which it has attributed largely to AI. Its sales for the first seven months of 2025 are up nearly 38% from the same period last year. TSMC’s shares hit a record high on Thursday after Taipei said the company will be exempt from a potential 100% tariff on chip exports to the United States announced by Trump earlier this week. 4. SoftBank Group shares hit record high SoftBank Group Corp. shares hit a record high in Tokyo trade on Friday, after the technology conglomerate logged stellar quarterly earnings on a sharp run-up in its AI-linked investments. The stock rallied over 13% to a record high of 14,230.0 yen, also driving an over 2% jump in Japan’s Nikkei 225 index. SoftBank reported stronger-than-expected net profit of 421.8 billion yen ($2.87 billion) for its quarter ended in June, as it benefited from heightened market optimism over AI, which in turn pushed up the value of its investments. The Japanese tech conglomerate has stakes in a slew of public and private AI-related companies, including Nvidia. The company has been bolstered by a sizeable gain in the valuation of its shares the semiconductor giant. It is also a majority owner of British chip designer Arm Holdings (NASDAQ:ARM). 5. OpenAI launches GPT-5 OpenAI has unveiled its latest GPT-5 AI model, a new iteration of the technology powering the group’s mega-popular ChatGPT. The chatbot has become a focal point of the multi-year -- and ongoing -- boom in enthusiasm around the applications of AI, and helped turn OpenAI into one of the world’s most valuable private companies. Media reports suggest that talks are underway to allow OpenAI’s employees to sell their shares at a possible $500 billion valuation, well above its current valuation of $300 billion. Thursday’s release comes as a slew of big-name tech companies, including Facebook-owner Meta Platforms (NASDAQ:META), software titan Microsoft (NASDAQ:MSFT) and Google-parent Alphabet (NASDAQ:GOOGL), are all pursuing heavy investments in building out their AI capabilities, particularly through data center development. Don't miss out on the next big opportunity! 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