Legal experts say President Trump's unprecedented move to fire Cook over alleged past misconduct will likely be hashed out in court, but there is little precedent to determine whether a sitting board governor can be removed for past actions.

Successfully taking out Cook would give Trump the chance of gaining a majority of his picks on the seven-member Board of Governors. The board is scheduled in February 2026 to vote.

President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.

Researchers at the Philadelphia Fed, in a 2023 report, examined the prevalence of "fraudulent investors" in the mortgage market. Their data set covered 584,499 loans issued between 2005 and 2017, of which 22,431 were deemed fraudulent.

The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.

Fed Vice Chair for Supervision Michelle Bowman warned that focusing too much on technology risks could make banks lose relevance with customers.

KC Mathews, executive vice president and chief market strategist at Commerce Trust breaks down the FOMC meeting.

Bond traders' big bet that the Federal Reserve is poised to lower interest rates faces a key moment this week as Chair Jerome Powell gets a chance to weigh in on the economy.

A possible shift in the composition of the Federal Reserve's portfolio of Treasury holdings could result in the central bank buying nearly $2 trillion of bills over the next two years, enough to absorb nearly all of the Treasury's issuance during that period, according to Bank of America Corp.

Funds parked at a major Federal Reserve facility dropped to the lowest level in more than four years, putting in focus the amount of cash banks have sitting at the US central bank, a measure of liquidity conditions.

Approximately 60% of economists surveyed by Wolters Kluwer believe the Federal Open Market Committee will act at its next meeting with a 25 basis point cut.

The president said he would soon announce a replacement for departing Fed Gov. Adriana Kugler, adding that it's a "possibility" that his selection for that seat on the Federal Reserve Board will be tapped as the next Fed Chair.

Bond investors enter a frenetic week comprising the latest Treasury view on quarterly debt sales, a Federal Reserve meeting, and plenty of data crowned by the July jobs report.  

Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.

"There's nothing that tells me that he should step down right now," Bessent said of the US central bank chief, speaking Tuesday on Fox Business.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.

His transformation comes at a time when President Donald Trump's demands that the Fed cut rates are reaching a fever pitch, and Trump has made clear he won't pick a candidate who isn't ready to deliver.

The share of economists expecting a September rate reduction grew in the July Wolters Kluwer survey, but the October or later percentage also increased.

The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.