President Donald Trump\u2019s nominee to the Federal Reserve Board could soon be working alongside the very official Trump recently sought to oust, highlighting his ongoing efforts to reshape the central bank\u2019s independence. On Tuesday night, a federal judge blocked Trump\u2019s unprecedented attempt to remove Fed Governor Lisa Cook. The administration said Wednesday it would appeal the ruling.<\/p>\n
Meanwhile, Stephen Miran\u2019s nomination to serve as a Fed governor cleared a key hurdle with a procedural Senate committee vote. His confirmation is expected to move quickly to the full Senate, where approval would allow him to join the Fed in time for next week\u2019s rate-setting meeting.<\/p>\n
The developments come as Trump moves aggressively to leave his mark on U.S. economic policy. In his second term, he has pushed through sweeping tariffs and launched a high-pressure campaign against the Fed, breaking with decades of precedent. The moves have unsettled consumers wary of inflation and job losses, while businesses report slower hiring amid heightened uncertainty about the economy\u2019s direction.<\/p>\n
Still, many of Trump\u2019s policies face legal challenges, including his tariffs, producing mixed results in the courts. On Capitol Hill, however, the Republican-controlled Congress has largely backed him, including passing his signature tax and spending package.<\/p>\n
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