The Supreme Court ruling blocking President Trump from firing Fed governor Lisa Cook could be a reset back to a more typical interaction between the White House and the central bank, said Claudia Sahm, chief economist at New Century Advisors and former Fed economist. "Many presidents want the Fed to lower interest rates...the Trump administration went from words to actions," she said. "If the administration would move back into the word space and away from actions, that would be really beneficial," she added. Whether or not the administration takes further legal action against Cook could be "a sign of whether they're going to reset and step back, or they really want to keep pushing." (jessica.coacci@wsj.com)
Dow Jones Newswires
Cook Ruling Could Reset Interactions Between Fed and White House — Market Talk
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The Supreme Court ruling blocking President Trump from firing Fed governor Lisa Cook could be a reset back to a more typical interaction between the White House and the central bank, said Claudia Sahm, chief economist at New Century Advisors and former Fed economist. "Many presidents want the Fed t…