President Trump’s effort to oust the Federal Reserve governor has kicked off a landmark legal battle, one that will have far-reaching consequences for the institution’s independence.
President Trump’s attempt to fire Lisa Cook has laid bare the erosion of the Federal Reserve’s independence, which could lead to economic consequences for Americans, The New York Times’s chief economics correspondent explains.
The Supreme Court has said the Federal Reserve Board’s independence warrants protection. President Trump’s effort to fire a member will test that commitment.
The market reaction was muted after President Trump moved to fire the Federal Reserve governor Lisa Cook. One economist likened the response to a frog in “gently heating” water.
Bill Pulte, who has more than three million followers on social media, has used his position at the Federal Housing Finance Agency to attack and investigate Mr. Trump’s political enemies.
Trump’s move to fire a Federal Reserve governor threatens the independence of the central bank. Its autonomy is not lost, but three institutions must act.
President Trump has become the semiconductor sector’s leading decision maker, from new fees on exports to China to a brief demand for a C.E.O.’s firing.
Login
