Trump removes Fed Governor Lisa Cook

[Anonymous]

This is going to spook the markets. Shame on Trump. He’s getting rid of everyone who has the audacity to disagree with his views. We have entered banana republic territory.

https://www.nytimes.com/live/2025/08/25/us/trump-news#lisa-cook-fired-trump-fed

President Trump on Monday said he was taking the extraordinary step of removing Lisa Cook from the board of governors of the Federal Reserve, in a legally dubious maneuver that could undermine the independence of the nation’s central bank.

Mr. Trump justified the firing, which he said was effective immediately, by pointing to allegations that Ms. Cook may have falsified records in order to obtain favorable terms on a mortgage.

Mr. Trump said the accusations had compromised Ms. Cook, the first Black woman to serve on the board, and her ability to perform as an effective financial regulator. He invoked a power in the Fed’s founding statute to dismiss her for cause.

But Ms. Cook, who was confirmed by the Senate to the position on the Fed’s board, has not been charged with any wrongdoing or convicted of a crime. And she could seek to fight her dismissal, touching off what could be a landmark battle on the president’s power over the Fed.

The dismissal nonetheless underscored the extent to which Mr. Trump has sought to remake the roster of the nation’s central bank, which sets the nation’s benchmark interest rates. All along, the president has made no secret of the true source of his anger with the Fed, which he has savaged for months for keeping borrowing costs higher than he would like.

[Anonymous]

Did anyone ask Bill Pulte why he is breaking the law and appointing himself the head of Fannie & Freddie while head of FHFA. This is expressly illegal.

He’s drawing three salaries.

[Anonymous]

From Nobel Prize winner Paul Krugman’s daily email earlier today…

I am not going to lead with a discussion of what Cook may or may not have done. That would be playing Trump’s game. Clearly, he’s just looking for a pretext to fire someone who isn’t a loyalist — and who happens, surprise, to be a black woman. If you write about politics and imagine that Trump cares about mortgage fraud — or for that matter believe anything Trump officials say about the affair without independent confirmation — you should find a different profession. Maybe you should go into agricultural field work, to help offset the labor shortages created by Trump’s deportations.

The real story here isn’t about Cook, or mortgages. It’s about the way the Trump administration is weaponizing government against political opponents, critics, or anyone it finds inconvenient.

You should think about the attack on Cook in the same context as mortgage fraud accusations made against California Senator Adam Schiff and New York Attorney General Letitia James. Or you should look at the attacks on Jerome Powell, the Federal Reserve chair, over the cost of renovations at the Fed’s headquarters. Or the still mysterious raid on the house of John Bolton, who at one time was Trump’s national security adviser.

The message here clearly isn’t “Don’t commit fraud,” which would be laughable coming from Donald Trump, of all people. Nor, despite what some commentators have said, is it all about revenge — although Trump is, indeed, a remarkably vindictive person. But mainly it’s about intimidation: “If you get in our way we will ruin your life.”

[Anonymous]

Lisa should have been gone a long time ago.

[Anonymous]

Oh the irony of Donald Trump firing anyone for alleged mortgage fraud

[Anonymous]

And the dollar just tanked, wheee

[Anonymous]

Anonymous wrote:Lisa should have been gone a long time ago.

No. She’s a well-respected economist who is well-liked by her peers. Trump fired her because she is a black women who had the audacity to disagree with him about raising interest rates (as do most people who have more than a high school student’s knowledge of the economy.)

[Anonymous]

Anonymous wrote:And the dollar just tanked, wheee

Central bank independence is one of the tenets of advanced economy. FAFO Donald Trump.

[Anonymous]

This goes to show you Jerome Powell must be squeaky clean and live the life of a saint

Because trump would’ve tried to find any cover to fire him

[Anonymous]

I don’t think Powell will bend on this one. She will be back at her office at the Fed Board tomorrow.

This goes to the Supreme Court.

[Anonymous]

Anonymous wrote:I don’t think Powell will bend on this one. She will be back at her office at the Fed Board tomorrow.

This goes to the Supreme Court.

Regardless Trump is showing his interest in terrorizing public servants. Fed Gov Kugler quit last month unexpectedly. No one wants their life to become a Trump target when they are professionals just trying to do their jobs

[Anonymous]

Anonymous wrote:From Nobel Prize winner Paul Krugman’s daily email earlier today…

I am not going to lead with a discussion of what Cook may or may not have done. That would be playing Trump’s game. Clearly, he’s just looking for a pretext to fire someone who isn’t a loyalist — and who happens, surprise, to be a black woman. If you write about politics and imagine that Trump cares about mortgage fraud — or for that matter believe anything Trump officials say about the affair without independent confirmation — you should find a different profession. Maybe you should go into agricultural field work, to help offset the labor shortages created by Trump’s deportations.

The real story here isn’t about Cook, or mortgages. It’s about the way the Trump administration is weaponizing government against political opponents, critics, or anyone it finds inconvenient.

You should think about the attack on Cook in the same context as mortgage fraud accusations made against California Senator Adam Schiff and New York Attorney General Letitia James. Or you should look at the attacks on Jerome Powell, the Federal Reserve chair, over the cost of renovations at the Fed’s headquarters. Or the still mysterious raid on the house of John Bolton, who at one time was Trump’s national security adviser.

The message here clearly isn’t “Don’t commit fraud,” which would be laughable coming from Donald Trump, of all people. Nor, despite what some commentators have said, is it all about revenge — although Trump is, indeed, a remarkably vindictive person. But mainly it’s about intimidation: “If you get in our way we will ruin your life.”

Well said.

[Anonymous]

Anonymous wrote:Oh the irony of Donald Trump firing anyone for alleged mortgage fraud

My thought too!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lisa should have been gone a long time ago.

No. She’s a well-respected economist who is well-liked by her peers. Trump fired her because she is a black women who had the audacity to disagree with him about raising interest rates (as do most people who have more than a high school student’s knowledge of the economy.)

He can't stomach the idea of a woman-- especially a woman of color-- having any sort of money that wasn't provided to her by a man. And to be able to talk about money intelligently? Oh god, the idea gives the man a nosebleed. It probably makes him sick to his stomach that she has the audacity to have a PhD in economics.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lisa should have been gone a long time ago.

No. She’s a well-respected economist who is well-liked by her peers. Trump fired her because she is a black women who had the audacity to disagree with him about raising interest rates (as do most people who have more than a high school student’s knowledge of the economy.)

He can't stomach the idea of a woman-- especially a woman of color-- having any sort of money that wasn't provided to her by a man. And to be able to talk about money intelligently? Oh god, the idea gives the man a nosebleed. It probably makes him sick to his stomach that she has the audacity to have a PhD in economics.

You’re overthinking it. He wants to replace her with someone who will vote his way. He is taking over every institution in this country.