Lawyers for the administration told a court it should be “highly deferential” to the president when it comes to firing a Federal Reserve governor “for cause.”

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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.

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By turning away from evidence when it doesn’t suit, the administration is showing that it doesn’t think it matters whether it has the better argument.

Trump officials say the president is within his rights to fire officials who do not share his agenda.

© Kevin Mohatt/Reuters

Lisa Cook, who has not been charged with a crime, sought to retain her position, arguing her firing was “unprecedented and illegal.”

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Trump’s meddling in our most important economic institutions is so extreme that at times it resembles China’s state-directed capitalism.

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.

© Haiyun Jiang /The New York Times

The White House is not the president’s property. Neither is the Smithsonian. Nor Washington itself.

Trump’s effort to oust Lisa Cook could have all sorts of worrisome consequences.

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.

What do data integrity, tariffs, inflation and debt add up to?

New payment systems allow users and banks to bypass the U.S. currency and sanctions.