Trump is trying to fire Fed governor Lisa Cook again
Just when everyone thought the drama was over, the White House is giving it another shot.
Last year, Trump tried to boot Lisa Cook off the Fed board over alleged mortgage fraud on an old loan application. The Supreme Court stepped in and ruled that a president cannot just fire central bankers without proper legal due process.
Fast forward to now: the White House is officially trying again, this time sending a formal letter with a 21-day deadline to respond. They claim there is "sufficient reason" she lied on mortgage paperwork, effectively treating this like an administrative homework assignment before hand-delivering her pink slip.
Her lawyer called the whole thing a complete pretense to undermine central bank independence and promised to challenge it in court again.
Firing an independent rate-setter over mortgage paperwork homework is certainly a novel way to influence interest rates.
Source: Politico
Comments
This is where the magic happens: AI reads your discussion and rewrites the article based on the most interesting comments. Each strong comment adds points to the meter below. Once the meter is full, the article updates live — no page reload needed.