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The Latest Breaking News from US Federal Reserve

Dollar Finishes Slightly Lower on Mixed US Economic Reports

The dollar index (DXY00 ) on Friday fell by -0.02%. The dollar gave up an early advance on Friday and turned lower following the weaker-than-expected August MNI Chicago PMI report and after the University of Michigan’s US August consumer sentiment index was revised lower. The dollar was also pressured by...

Barchart

Trump-Cook Battle Triggers Rush To Gold As Bullion Eyes New Records

Gold prices rallied Friday, inching near record highs, as a legal battle over President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook continued to stoke fears of political interference in U.S. monetary policy and triggered a rush to precious metals.

Benzinga

Mortgage Fraud Is Now A Trump-Era Flashpoint—Here's Everything You Need To Know

Mortgage fraud is a serious allegation, one that President Donald Trump has hurled toward three of his staunch critics: Federal Reserve Governor Lisa Cook, New York State Attorney General Letitia James and California Senator Adam Schiff.

Benzinga

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Court Battle Underway As Fed Governor Cook Contests Firing By Trump

A US court on Friday began hearing Federal Reserve Governor Lisa Cook's challenge of President Donald Trump's attempt to fire her, in a legal battle set to have major implications for the US central bank and its independence.

International Business Times

Stocks Fall, Gold Rallies, Silver Hits 14-Year Highs As Inflation Rises: What's Moving Markets Friday? (CORRECTED)

Editor's Note: This headline has been updated to accurately reflect silver's market milestone.

Benzinga

PCE data paints a solid picture, but hidden cracks show tariffs quietly squeezing U.S. consumers—and weak job growth could put them over the edge

Never underestimate the U.S. consumer, economists say.

Fortune

Gold Might Be Frontrunning The Fed

After surging to an all-time high of $3,500 per ounce in April, gold has cooled off, building a narrow base between $3,200 and $3,400. Rather than signaling exhaustion, this consolidation has formed an ascending triangle, a pattern that often precedes an upside breakout.

Benzinga

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The Guardian view on Trump and the Fed: independence is no substitute for accountability

Editorial: The US president’s move against Lisa Cook shows his despotic bent, but the Fed was never democracy’s guardian. It’s time to rethink who really controls money

The Guardian - UK

Senate Banking Democrats urge Scott to delay Fed nominee hearing - Roll Call

As Federal Reserve governor Lisa Cook fights for her job, Senate Banking panel Democrats say a hearing for a Fed nominee should be delayed.

Roll Call

In Trump’s Push to Fire Fed Governor, a Curious Target

In seeking to oust Lisa Cook, President Trump attacks a likely ally on interest rates who happens to be the first Black woman in the job.

Capital & Main

Dollar Gains on Strength in US Economic Reports

The dollar index (DXY00 ) today is up by +0.05%. The dollar is climbing today on signs of strength in US consumer spending after July personal spending rose by the most in four months. Also, sticky inflation pressures are hawkish for Fed policy and are supportive for the dollar after...

Barchart

Stocks Retreat as Tech Stocks Slump and Inflation Pressures Persist

The S&P 500 Index ($SPX ) (SPY ) today is down by -0.74%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down by -0.43%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down by -1.28%. September E-mini S&P futures (ESU25 ) are down -0.74%, and September...

Barchart

Stocks Decline on Weakness in Tech Stocks and Sticky Inflation Pressures

The S&P 500 Index ($SPX ) (SPY ) today is down by -0.31%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down by -0.12%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down by -0.92%. September E-mini S&P futures (ESU25 ) are down -0.46%, and September...

Barchart

US Stocks Lower; Fed's Preferred Inflation Gauge Surges To Highest Level Since February

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 0.4% on Friday.

Benzinga

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Reason

Trump's Fed Coup

Plus: Beachy vignettes, Smithsonian scrutiny, Gavin Newsom might not be the Democrats' great new hope, and more...

Benzinga

Fed's Preferred Inflation Gauge Hits Highest Since February, Threatens Powell's Rate Cut Bet

An inflation reading closely tracked by the Federal Reserve climbed to its highest level since February, remaining stubbornly above the 2% target and raising new doubts around the timing of Jerome Powell's anticipated interest rate cuts.

The Independent UK

Key US inflation gauge holds mostly steady though core inflation ticks higher

The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s broad-based tariffs, but a measure of underlying inflation increased

Fortune

The first battle in the war on Fed independence takes shape today at Lisa Cook’s emergency hearing

Trump’s bid to oust Fed governor Lisa Cook faces a legal showdown as she sues to block her removal, escalating the fight over Fed independence.

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Fortune

Trump’s war on the Fed has created a ‘twist steepener’ in the bond market, and it’s hurting the dollar

The dynamic is dragging the dollar lower, in reaction to President Trump’s interference in the Fed, weak growth, and inflation risk, according to analysts at Convera.

The Guardian - UK

First Thing: White House picks Kennedy deputy Jim O’Neill to replace fired CDC chief

Ex-investment manager chosen as agency’s interim director after firing of Susan Monarez. Plus, how marijuana became the US Open’s new distraction

The Guardian - US

US appeals court rules most of Trump’s sweeping global tariffs illegal – as it happened

Ruling upholds decision from trade court while president attacks ‘Highly Partisan Appeals Court’ and says he will win tariff fight

Barchart

Stock Index Futures Slip With Focus on U.S. PCE Inflation Data

September S&P 500 E-Mini futures (ESU25) are down -0.27%, and September Nasdaq 100 E-Mini futures (NQU25) are down -0.47% this morning as investors trimmed risk ahead of the release of the Federal Reserve’s first-line inflation gauge, which could offer more insight into the interest-rate outlook.

The Guardian - US

Trump accused of using mortgage fraud allegations as ‘weapon of choice’ to attack Fed

At hearing for Federal Reserve governor’s suit over firing, attorney says president engages in ‘litigation by tweet’

Benzinga

Trump's 'Crackpot Economics' A Disaster In The Making, Says Economist Paul Krugman — Markets Won't React Until It's Too Late

Economist Paul Krugman has issued a stark warning against President Donald Trump’s undermining of the Federal Reserve’s independence.

Benzinga

Inno Holdings Gains 2% In Pre-Market Following 254% Monday Rally Amid Fed Rate Cut Optimism

Inno Holdings Inc. (NASDAQ:INHD) traded 2% higher in the pre-market session on Friday at $5.02, following a volatile regular trading day that saw the stock decline 6.88%.

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