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President Trump had pressed to fire Lisa Cook before the central bank's meeting, at which the Fed voted to cut interest rates.
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Worrisome housing and job markets suggest that the central bank should have cut interest rates more.
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The Federal Reserve lowered rates by a quarter point, but one governor voted for a bigger cut. Balancing persistent inflation and a weaker labor market was "a challenging situation," the central bank chair said.
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Fed Meeting Live Updates: Interest Rates and Economic News The New York TimesFed announces first rate cut in nine months, signals more reductions to come CNNGlobal Markets Mixed After Fed Rate Cut The Wall Street JournalFederal Reserve cuts interest rates for the first time this year NBC NewsAmerica's monetary policy risks getting too loose The Econo
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The Fed cuts rates by a quarter point, navigating White House pressure and balancing a softer job market with stubborn inflation.
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