Lates News

On Monday, a U.S. appeals court rejected President Trump's request to dismiss Federal Reserve Board member Lael Brainard. This is the first time a president has attempted this action since the founding of the Federal Reserve in 1913. The ruling by the D.C. Circuit Court of Appeals means that Brainard can temporarily continue to serve on the Federal Reserve during its policy meeting on Tuesday and Wednesday. It is expected that the Trump administration will appeal to the U.S. Supreme Court. In addition, Marvin Goodfriend, a nominee of Trump, has gained enough votes in the U.S. Senate on Monday to be confirmed as a Federal Reserve Board member, allowing him to participate in this week's interest rate decisions alongside the other 11 voting members.