The Justice Department signaled possible plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her from the board in a letter sent Thursday.

Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

Economists have long preferred independent central banks because they can more easily take unpopular steps to fight inflation.

Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,

President Donald Trump is calling on a Federal Reserve governor to resign over an accusation of mortgage fraud.

The U.S. dollar drifted on Thursday as investors fretted about the Federal Reserve's independence after yet another attack from President Donald Trump ahead of remarks from Chair Jerome Powell later this week that could influence the outlook for rates.

A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.