Fed vs. Inflation

Court denies Trump's new attempt to fire Lisa Cook

Donald Trump's attempt to fire Lisa Cook, a member of the US Federal Reserve, before this week's interest rate meeting, has fallen through. This after an appeals court blocked the White House from removing her from office, writes Bloomberg.

A dissenting court allowed Cook to continue her job at the central bank while her countersuit against the president's accusations continues in another instance.

The announcement came just hours before the Fed's new interest rate meeting begins. Stephen Miran, Trump's new choice for Fed chairman, will also participate after being confirmed by the Senate. 

Survey: Trump's fight against the Fed is expected to increase inflation

Higher inflation and lower growth. This is likely the result of President Donald Trump's actions against the Federal Reserve's independence, according to experts who responded to CNBC's Fed Survey.

- Tariffs and uncertainty remain the biggest obstacles to growth, but interference with the Fed's independence could increase risks, says John Ryding, economic advisor at Brean Capital.

A total of 29 economists, fund professionals and strategists responded to the TV channel's survey. In the survey, there is an even split between those who believe that Trump is looking to limit independence and those who believe that the president wants to abolish independence altogether. Both response options received 41 percent each. At the same time, 10 percent said they believe that Trump supports the Fed's independence.

With one vote in favor, Trump's man became the new Fed chief

Overnight, Swedish time, Stephen Miran received the thumbs up to become a new member of the US Federal Reserve by a small margin in the Senate. The announcement comes the same day as the Fed begins its new interest rate meeting, where the interest rate announcement is expected tomorrow, writes AFP.

With one vote in favor, 48-47, Miran was voted in. His nomination from Donald Trump has been met with sharp criticism, especially from Democrats because he also holds a role as an economic advisor to the president.

Miran has also admitted that he will not initially leave his job in the Trump administration, since he will initially only hold the post for four months.