Andrew here. Amid all of the headlines about the Fed and the government shutdown, which we cover below, I want to pause for a moment to reflect on someone whose life mattered far more than a news cycle: Jane Goodall, the renowned primatologist and conservationist who died yesterday.
I was fortunate to spend time with her on several occasions, and she was as extraordinary a person as you could ever hope to meet. Her groundbreaking research on chimpanzees changed the way we understand animals — and ourselves. Just as important, she inspired generations to think more deeply about our shared responsibility for the planet. Goodall’s life is a reminder that we could all use a little more of the empathy that she embodied.
Trump’s bind at the Fed
President Trump’s effort to exert greater control over the Fed has suffered a temporary, but potentially stinging, setback.
The Supreme Court’s decision yesterday to let Lisa Cook stay on as a Fed governor for now probably doesn’t change the central bank’s plans for interest rates in the short term. The futures market this morning was penciling in cuts at the next two rate-setting meetings, in line with Trump’s calls for lowering borrowing costs.
But beyond that, Fed officials are divided over whether deeper cuts are needed, and yesterday’s ruling could complicate Trump’s efforts to remake the institution more to his liking.
The latest: The Supreme Court said it would begin hearing arguments in January over whether the White House can fire Cook over accusations that she committed mortgage fraud. The case is one of the biggest tests yet on the limits of executive power over an independent government institution, legal experts say.
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The post The Consequences of Trump’s Setback at the Fed appeared first on New York Times.
