Trump Sets Up a Squad to Audit a Fed Governor's Mortgage
When Trump wants to purge a central banker but the Supreme Court blocks him, the backup plan is apparently a federal task force over a loan checkbox.
Donald Trump really wants Lisa Cook off the Federal Reserve board, and legal roadblocks are clearly just minor suggestions.
After the justices made it clear he cannot just fire a central banker on a whim without proper cause, he came up with a bespoke workaround: creating a special White House committee of senior officials to investigate whether she mislabeled a home on an old mortgage application.
Her lawyers fired back that an inadvertent slip on personal paperwork is hardly mortgage fraud, especially when roughly a third of the current cabinet has made similar clerical errors. None of that stopped the administration from mobilizing top officials to build a dossier to justify ousting her.
Central bank independence has weathered global panics, recessions, and political wars, but a vacation home checkbox might be the real test.
Source: White House
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