Tag: central bank independence

Federal Reserve Shock: Trump Fires Governor Lisa Cook, Testing the Law and the Bank’s Independence

President Trump moved to fire Fed Governor Lisa Cook, citing mortgage fraud allegations and claiming legal cause. Cook denies wrongdoing and is challenging the move in court. Democrats called it an attack on Fed independence. If it stands, Trump could gain a voting majority on the Board of Governors. The clash sets up a high-stakes legal fight over presidential power and central bank autonomy.