Live updates and the latest news on the Trump administration as Democrat James Walkinshaw notches House victory in Virginia and a federal judge blocks Trump's firing of Federal Reserve governor Lisa Cook.

Some Republicans have anonymously voiced their displeasure with Federal Housing Finance Agency Director Bill Pulte, the Trump appointee who—as one House Republican put it—is “a nut.” GOP congressmen told Politico Tuesday that Pulte,

The Federal Funds Effective Rate reflects the cost of overnight borrowing between banks. Click here for more information on the U.S. Economy.

Nominated by Democratic former President Joe Biden to fill a surprise vacancy on the Fed board and confirmed in 2023, Kugler's term was not set to expire until January of 2026. In her Aug. 1 resignation letter, addressed to Trump, Kugler offered no explanation for why she was leaving her job just months before her term ended.

The Federal Reserve might need to suspend the process of shrinking its balance sheet if liquidity drains too quickly from markets.

After a weak jobs report, the producer and consumer price indices for August could be the next worry for the markets and the Fed.

Goldman Sachs analysts project gold could surge to $5,000 an ounce if Federal Reserve independence erodes, triggering a flight from bonds and stocks.

While Trump has taken to name-calling and high-pressure moves such as public call-outs and televised meetings with Fed Chair Jerome Powell, Bessent took a more measured approach.