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BREITBART BUSINESS DIGEST: TARIFFS ARE REDUCING PRICES AND HUMILIATING ECONOMISTS

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✍️ The article discusses the economic news of the week, including a Supreme Court case involving the Federal Reserve and the impact of tariffs on prices. It also touches on the Democratic Party's lack of a clear economic plan.

👉 The Federal Reserve is facing a Supreme Court case involving the removal of a governor 👉 A group of economists and former government officials have filed an amicus brief arguing that the removal of a governor could threaten the independence of the central bank 👉 The article argues that this argument is weak and that the removal of a governor would not have a significant impact on the economy 👉 Tariffs have had a minimal impact on prices, with prices of durable goods falling despite the tariffs 👉 The Democratic Party lacks a clear economic plan, according to a recent poll

-- #LisaD.Cook #RobertRubin #LarrySummers #HankPaulson #JackLew #TimothyGeithner #JeromePowell #AlanGreenspan #HillaryClinton #UnitedStates #Atlanta #politics

A DIVIDED APPEALS COURT BLOCKS TRUMP FROM REMOVING FED GOVERNOR

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✍️ A divided federal appeals court refused to let President Trump immediately remove Federal Reserve Governor Lisa Cook, citing due process concerns.

👉 The court denied the administration's emergency request to lift an injunction that restored Cook to her post 👉 The majority emphasized the need for due process in the removal of a federal official 👉 The dissenting judge argued that Cook's alleged misrepresentations on mortgage applications called into question her fitness as a financial regulator

-- #PresidentDonaldJ.Trump #LisaD.Cook #JudgeBradleyGarcia #JudgeJ.MichelleChilds #JudgeGregoryKatsas #politics

BREITBART BUSINESS DIGEST: WHEN CONGRESS WROTE THE FED RULES, COURTS WEREN'T INVITED

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✍️ The article discusses the history of the Federal Reserve and the removal of its officials, highlighting the 1935 legislation that established the "for cause" standard for removal.

👉 The 1935 legislation established the "for cause" standard for removing Federal Reserve officials 👉 The standard was deliberately left open-ended to allow for presidential discretion 👉 The legislation provided structural safeguards to protect monetary independence 👉 The Federal Reserve's removal standard is different from other agencies, requiring the President to state cause and at-will firing is off the table 👉 The standard has been interpreted to mean that the President must state a reason tethered to the office's purposes, but courts shouldn't turn that into a criminal-style proceeding or a running audit of motives

-- #LisaD.Cook #DonaldTrump #FranklinRoosevelt #CarterGlass #WinthropAldrich #NelsonWilmarthAldrich #Washington #Virginia #politics

HISTORY IS ON TRUMP’S SIDE IN LISA COOK FIGHT

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✍️ President Trump's attempt to fire Federal Reserve governor Lisa D. Cook sparks debate about the meaning of 'for cause' removal, a standard that has been debated for nearly a century.

👉 The Federal Reserve Act of 1913 created the Federal Reserve Board with a 'for cause' removal provision. 👉 In 1933, Congress accidentally omitted the 'for cause' protection, and it was only restored in 1935. 👉 The 1935 debate centered around whether the standard required proof of serious misconduct or if it allowed for more flexibility. 👉 The Supreme Court's decision in Humphrey's Executor v. United States in 1935 played a role in shaping the debate. 👉 Today, the question is whether courts will interpret 'for cause' as a narrow, judicially enforceable standard or as a broader, more political concept.

-- #LisaD.Cook #DonaldJ.Trump #MarrinerEccles #FranklinD.Roosevelt #CarterGlass #HenryMorgenthau #LevMenand #MiltonFriedman #AnnaSchwartz #WinthropW.Aldrich #FrankC.Ferguson #Washington #Virginia #NewJersey #politics

THE FED'S WORD OF THE DAY: "UNCERTAINTY"

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✍️ Fed officials emphasize uncertainty around President Trump's tariff campaign, delaying monetary policy decisions.

👉 The Fed is waiting to see how the tariff campaign affects the economy before making any monetary policy moves. 👉 The uncertainty surrounding the tariffs has kept the Fed from making any moves. 👉 The Fed is widely expected to hold off on cutting the key fed funds rate until at least September. 👉 The Fed is concerned about the potential impact of the tariffs on inflation and employment.

-- #RaphaelBostic #LisaD.Cook #AustanGoolsbee #JeromePowell #DonaldTrump #Atlanta #NewYork #Iowa #politics

TEXT OF THE POLICY STATEMENT THE FEDERAL RESERVE RELEASED WEDNESDAY

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✍️ The Federal Reserve lowered the target range for the federal funds rate by 1/4 percentage point to 4-1/4 to 4-1/2 percent, citing a solid pace of economic expansion and low unemployment.

👉 The Federal Reserve lowered the target range for the federal funds rate by 1/4 percentage point to 4-1/4 to 4-1/2 percent. 👉 Economic activity has continued to expand at a solid pace. 👉 Labor market conditions have generally eased, and the unemployment rate has moved up but remains low. 👉 Inflation has made progress toward the Committee's 2 percent objective, but remains somewhat elevated.

-- #JeromeH.Powell #JohnC.Williams #ThomasI.Barkin #MichaelS.Barr #RaphaelW.Bostic #MichelleW.Bowman #LisaD.Cook #MaryC.Daly #PhilipN.Jefferson #AdrianaD.Kugler #ChristopherJ.Waller #BethM.Hammack #politics

TEXT OF THE POLICY STATEMENT THE FEDERAL RESERVE RELEASED WEDNESDAY

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✍️ The Federal Reserve lowered the target range for the federal funds rate by 1/4 percentage point to 4-1/4 to 4-1/2 percent to support maximum employment and return inflation to its 2 percent objective.

👉 The Federal Reserve lowered the target range for the federal funds rate by 1/4 percentage point to 4-1/4 to 4-1/2 percent. 👉 The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. 👉 The Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities.

-- #JeromeH.Powell #JohnC.Williams #ThomasI.Barkin #MichaelS.Barr #RaphaelW.Bostic #MichelleW.Bowman #LisaD.Cook #MaryC.Daly #PhilipN.Jefferson #AdrianaD.Kugler #ChristopherJ.Waller #BethM.Hammack #politics

Text of the policy statement the Federal Reserve released Thursday. data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7 The Federal Reserve released a statement after its latest policy meeting, indicating that economic activity has continued to expand at a solid pace. Labor market conditions have eased, and the unemployment rate remains low. Inflation has made progress towards the Committee's 2% objective, but remains somewhat elevated. The Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent, and will continue to monitor the economic outlook and adjust the stance of monetary policy as necessary. ● The Federal Reserve lowered the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent. ● Economic activity has continued to expand at a solid pace. ● Labor market conditions have generally eased, and the unemployment rate remains low. ● Inflation has made progress towards the Committee's 2% objective, but remains somewhat elevated.

#JeromeH.Powell #JohnC.Williams #ThomasI.Barkin #MichaelS.Barr #RaphaelW.Bostic #MichelleW.Bowman #LisaD.Cook #MaryC.Daly #BethM.Hammack #PhilipN.Jefferson #AdrianaD.Kugler #ChristopherJ.Waller #mainstream #world

Text of the policy statement the Federal Reserve released Thursday. data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7 The Federal Reserve has released a statement after its latest policy meeting, indicating that the economy is expanding at a solid pace, labor market conditions have eased, and inflation has made progress towards its 2 percent objective. The Committee has decided to lower the target range for the federal funds rate to support maximum employment and return inflation to its target. The Committee will continue to monitor the implications of incoming information for the economic outlook and adjust the stance of monetary policy as appropriate. ● The Federal Reserve has lowered the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent. ● The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. ● The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.

#JeromeH.Powell #JohnC.Williams #ThomasI.Barkin #MichaelS.Barr #RaphaelW.Bostic #MichelleW.Bowman #LisaD.Cook #MaryC.Daly #BethM.Hammack #PhilipN.Jefferson #AdrianaD.Kugler #ChristopherJ.Waller #mainstream #politics