President Trump intensified pressure on the Federal Reserve to lower interest rates, threatening to cut off trade with countries with which the US has a deficit if the central bank does not comply. He made the comments after a stronger-than-expected jobs report.
The White House has revived its attempt to remove Federal Reserve Governor Lisa Cook over mortgage fraud allegations she denies, two months after the Supreme Court allowed her to retain her position while fighting the termination effort. A letter from White House aide Dan Scavino gives Cook three weeks to respond to the allegations.
Perry Warjiyo stepped down as Bank Indonesia governor on July 25, 2026, two years before his term ended, citing personal reasons. His unexpected departure rattled financial markets, weakened the rupiah, and raised concerns about central bank independence under President Prabowo Subianto.
Federal Reserve Chairman Kevin Warsh testified before Congress for the first time on Tuesday, pledging to make high inflation "a thing of the past" and calling for "regime change" at the central bank. He also vowed to "do my job" if challenged by President Trump, his most direct comment yet on maintaining Fed independence.
