Summary
The Federal Reserve is set to decide on interest rates during a key meeting. A new member, Stephen Miran, has joined the board and may push for a larger rate cut. Controversy surrounds Fed governor Lisa Cook, whom the Trump administration has unsuccessfully tried to remove.
Key Facts
- The Federal Reserve is holding a meeting to decide on interest rates.
- Stephen Miran, a Trump administration appointee, joined the Fed's board.
- The Fed is expected to cut the key interest rate by a quarter-point.
- Lisa Cook, whom the Trump administration tried to remove, remains on the board.
- An appeals court ruled that Cook's removal violated her rights.
- Lower borrowing costs are expected to follow the Fed's rate decision.
- The White House plans to appeal the decision to keep Lisa Cook in her role.
