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#americaneconomy — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #americaneconomy, aggregated by home.social.

  1. Democrats erupt over “illegal” Trump move to fire Fed’s Lisa Cook – Axios

    President Trump in the Oval Office on Aug. 22. Photo: Chip Somodevilla / Getty ImagesFrom article…

    Democratic Congress members responded with fury on Monday after President Trump said he’s firing Federal Reserve governor Lisa Cook.

    Why it matters: Some lawmakers are calling on the federal judiciary to swiftly strike down Cook’s ouster, arguing that the president has no legal basis for it.

    • “It’s an authoritarian power grab that blatantly violates the Federal Reserve Act, and must be overturned in court,” said Sen. Elizabeth Warren (D-Mass.), the ranking member of the Senate Banking Committee, in a statement.
    • House Minority Leader Hakeem Jeffries (D-N.Y.) said: “Trump is trying to remove her without a shred of credible evidence that she has done anything wrong.”
    • House Judiciary Committee ranking member Jamie Raskin (D-Md.) told Axios: “What an outrage and a scandal. This is the big one constitutionally.”

    What happened: Trump said in a letter posted to social media that Cook was “removed” from her position, “effective immediately,” citing Article II of the Constitution and the Federal Reserve Act of 1913.

    • The Federal Reserve Act allows a president to fire a governor for cause, but it has never happened before and its legality is murky, Axios’ Courtenay Brown and Neil Irwin reported.
    • Trump pointed to claims by Federal Housing Finance Agency William Pulte that Cook listed two primary residences in mortgage applications before becoming a Fed governor, which he referred to the Justice Department for criminal prosecution.
    • Cook has not responded to the allegations beyond saying last week she had “no intention of being bullied to step down from my position because of some questions raised in a tweet” and was “gathering the accurate information to answer any legitimate questions and provide the facts.”

    Between the lines: Trump’s move comes after he spent weeks hammering the Federal Reserve to lower interest rates.

    • Trump has accused Fed chair Jerome Powell of stifling economic growth by keeping rates steady.
    • Cook’s firing is one of several unprecedented steps Trump has taken to try to force federal agencies to present a sunnier economic picture, including firing the Bureau of Labor Statistics chief earlier this month. 

    Continue/Read Original Article Here: Democrats erupt over “illegal” Trump move to fire Fed’s Lisa Cook

    See also: https://www.axios.com/2025/08/26/trump-fires-federal-reserve-lisa-cook

    #2025 #America #AmericanEconomy #Axios #Democrats #DonaldTrump #Economy #FederalReserve #Firing #Health #History #Libraries #Library #LibraryOfCongress #LisaCook #Opinion #Politics #Resistance #Science #Trump #TrumpAdministration #UnitedStates

  2. #Conservatives claim that the #AmericanDream is to rise up from a dead end career and start an #AmericanBusiness that creates #AmericanJobs and grows the #AmericanEconomy.

    How many American companies never got the chance to exist because their would-be founders are chained to a corporate job to maintain their health insurance? How many #jobs went uncreated? Or created elsewhere by a competing idea?

    #Healthcare #Medicare

  3. #Conservatives claim that the #AmericanDream is to rise up from a dead end career and start an #AmericanBusiness that creates #AmericanJobs and grows the #AmericanEconomy.

    How many American companies never got the chance to exist because their would-be founders are chained to a corporate job to maintain their health insurance? How many #jobs went uncreated? Or created elsewhere by a competing idea?

    #Healthcare #Medicare