The quarter-point increase lifts the Fed’s key rate to about 3.9% and could result in higher borrowing costs for mortgages, auto loans, and credit cards.
The Supreme Court ruled in June that Cook could remain in her position — but did not block Trump from continuing to legally challenge her for alleged mortgage fraud.
The Supreme Court released a decision Friday finding that the president does not have the authority to impose tariffs under the International Emergency Economic Powers Act.
