Pressure Mounts: Fed Policy Meeting Faces Political Storm

The U.S. central bank opens a two-day policy meeting facing unprecedented pressure from the White House. The meeting continues despite President Trump's attempt to oust sitting Fed governor, Lisa Cook. A court ruling on Monday allows Cook to remain in her position during the ongoing litigation.

A federal court has blocked, at least temporarily, President Trump's effort to remove Governor Lisa Cook, allowing her participation in this week's meeting where the Central Bank might cut interest rates. The Senate has confirmed Stephen Miran's addition to the Board of Governors, introducing a new dynamic to the discussion.

The courts have sided with Cook on due process grounds, challenging Trump's unprecedented effort to dismiss her. The meeting unfolds amidst concern over a weakening job market, which along with inflation above target due to import tariffs, presses the Fed for its first rate cut since December.

(With inputs from agencies.)