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Share link:In this post: Trump fired BLS commissioner Erika McEntarfer after a weak July jobs report showed only 73,000 jobs added. He accused McEntarfer of rigging job data to hurt him and the Republican Party. Bill Wiatrowski was named acting commissioner while a replacement is sought.
Share link:In this post: iPhone sales climb jumped 13.5% ahead of potential US tariffs. Chinese subsidies and cheaper 16e model helped boost performance. Apple lags rivals in AI race and stock performance leaving investors wary.
Share link:In this post: Michael Saylor said Strategy doesn’t want to own all the Bitcoin and wants everyone to have their share. Strategy now holds 628,791 Bitcoin and raised $2.5 billion in its latest stock offering to buy more. Saylor said Bitcoin is replacing cash and traditional assets in corporate treasuries worldwide.
- 20:39Cook can still participate in the Federal Reserve's interest rate meetings, pending court decisionAccording to ChainCatcher, citing Golden Ten Data, Cook has stated through his private attorney that he will challenge his position as a Federal Reserve Board member in court and seek a judicial ruling. A Federal Reserve spokesperson said they will comply with the court's decision. Cook's status as a board member has not changed before the next meeting, and he can still participate in the interest rate decision meeting on September 16-17.
- 20:38Insider: Trump Plans to Appoint Milan and Former World Bank President to the Federal Reserve BoardJinse Finance reported, citing the Wall Street Journal, that according to informed sources, Trump has informed his advisors that he hopes to announce a nominee to replace Cook as Federal Reserve Governor as soon as possible. Trump stated that he may appoint his economic advisor, Milan, to succeed Cook. Other potential candidates discussed by Trump, according to sources, include former World Bank President David Malpass—a close ally of the president who has criticized the Federal Reserve for not cutting interest rates. If Milan is nominated to replace Cook, Malpass may be nominated to fill another vacancy on the Federal Reserve Board.
- 20:38Cook remains a Federal Reserve Governor and can still participate in rate-setting meetings before a final decision is made.Jinse Finance reported that "Cook has indicated through her private attorney that she will immediately challenge this action in court and seek a judicial ruling to confirm her right to continue serving as a Federal Reserve Board Governor, as confirmed by the Senate." A Federal Reserve spokesperson stated: "The Federal Reserve will, as always, comply with court rulings." The Federal Reserve's statement indicates that, from the central bank's perspective, Cook's status as a Board Governor has not changed; unless a court ruling is made before the next meeting, she can still participate in the meeting. The Federal Reserve's next interest rate decision meeting is scheduled for September 16-17, while Trump has been pressuring the Fed to make significant rate cuts.