Federal Reserve Governor Lisa Cook will file a lawsuit to prevent President Donald Trump from firing her, a lawyer for the embattled central bank official said on Tuesday, kicking off what could be a protracted legal fight over the White House's effort to shape U.S. monetary policy. "His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action," Cook's lawyer, prominent Washington attorney Abbe Lowell, said in a statement. The statement was issued a day after Trump said he would fire Cook, the...
President Donald Trump again criticized Federal Reserve Chairman Jerome Powell after the central bank declined to cut interest rates, ending a brief easing of tensions. "jerome ‘late' powell is at it again!!! he is too late, and even too angry, too stupid, & too political, to be fed chairman," trump wrote on his social media platforms on thursday, slamming the bank for holding interest rates steady. and trump again criticized powell over the central bank renovation construction project that has angered the president and his allies over cost overruns, just a week after he toured the...
US President Donald Trump intensified his trade war with Canada a day before the August 1 tariff deadline. He said it would be "very difficult" to reach a deal with Canada after Canada expressed its support for Palestinian statehood. Trump will impose a 35% tariff on all Canadian goods not covered by the US-Mexico-Canada trade agreement if the two countries do not reach a deal by the deadline. "Wow! Canada just announced its support for Palestinian statehood. That's going to make it very difficult for us to reach a Trade Deal with them," Trump said on Truth Social. Canadian Prime Minister...
US President Donald Trump announced a new trade deal with South Korea, stating that the United States (US) would charge a 15% tariff on imports from South Korea, Reuters reported on Wednesday. The agreement includes a $350 billion commitment from South Korea toward US-owned and controlled investments. Key quotes The United States and South Korea have reached a full and complete trade deal. South Korea will provide $350 billion for U.S.-owned and controlled investments, selected by the U.S. President. South Korea will purchase $100 billion in LNG or other energy products from the U.S. An...
The United States has agreed a trade deal with South Korea that will subject South Korean imports to a 15% tariff rate, President Donald Trump said on Wednesday.South Korea will also invest $350 billion in the United States and purchase $100 billion in U.S. energy products, Trump said on Truth Social. "It is also agreed that South Korea will be completely OPEN TO TRADE with the United States, and that they will accept American product including Cars and Trucks, Agriculture, etc," Trump added
President Donald Trump said he would impose 25% tariffs on India starting August 1 and hinted at adding additional penalties on the country's energy purchases from Russia. In a post on Truth Social on Wednesday, Trump said India has tariffs that are "among the highest in the world, and they have the most onerous and obnoxious non-monetary trade barriers of any country." "Furthermore, they have always purchased the majority of their military equipment from Russia, and are Russia's largest energy buyer, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE,"...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...