Trump's Federal Reserve Gambit Fails: Cook Cleared for September Meeting

A US court has ruled that Federal Reserve board governor Lisa Cook can stay in her job despite President Trump's attempts to fire her, clearing her path to attend the central bank's September meeting.

This development comes as a new member of the Federal Reserve Board, Stephen Miran, has been confirmed by the Senate to fill a vacant seat. The confirmation of Miran is seen as a win for President Trump's efforts to shape the Fed's decision-making process.

Investors are predicting that the Fed will cut interest rates by 0.25 basis points on Wednesday, with many expecting this move to boost economic growth and support the stock market.