Trump removes Fed Governor Lisa Cook

[Anonymous]

And the dollar tanks within 30 minutes of her firing.

https://www.reuters.com/world/middle-east/dollar-drops-after-trump-fires-feds-cook-2025-08-26/

The dollar index fell 0.3% to 98.187 after Trump made the announcement in a letter to Cook that he posted on social media.

"Markets aren’t panicking, but they are recalibrating, earlier rate cuts look more likely after Cook’s removal," said Charu Chanana, chief investment strategist at Saxo in Singapore.
"But this isn’t just about rate cuts, it’s about Fed independence and the growing institutional risks in the U.S."

Trump's unprecedented move marks a sharp escalation of the president’s battle against the Fed, which he blames for not lowering interest rates quickly, and intensifies investor worries about the U.S. central bank's independence.

[Anonymous]

Anonymous wrote:

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.

Both things can be true.

[Anonymous]

Why is Trump doing everything possible to cause even more inflation?

[Anonymous]

Anonymous wrote: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.

This! All while being heir to a billion-dollar home building company. Talk about dipping your hand in the cookie jar.

This whole action is based on Pulte gunning for control of the Fed, so they can appoint Trump lackeys who will do whatever this administration does, while cratering the whole economy and monetary system.

[Anonymous]

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

Why? Please be detailed and specific in your response.

[Anonymous]

Anonymous wrote:

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

Why? Please be detailed and specific in your response.

None these people even knew who she was before trump started smearing her.

[Anonymous]

Anonymous wrote:Why is Trump doing everything possible to cause even more inflation?

Because he’s fine with inflation. Inflation means that prices go up. If prices go up, he’ll make more money and be worth more, right? Bigger numbers are Better numbers. The little people will adapt. Survival of the fittest. When people with average incomes are forced to sell their homes, people like Trump will clean up at fire sale prices. Profits before people, right?

[Anonymous]

Anonymous wrote:Why is Trump doing everything possible to cause even more inflation?

It's hard to know why. I see two options: First is that he's an idiot who can only understand the surface layer of a situation. Second is that he wants to cause a financial and fiscal crisis such that the gets to renegotiate our debt held by foreigners; he thrives on bankrupting organizations and 'owning' them by not paying back lenders.

The second sounds crazy and would be super-destructive for the rest of us. But he truly loves screwing people over.

[Anonymous]

Anonymous wrote: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.

So, if accusations alone are enough to “compromise “ someone’s ability to perform their job effectively and to “dismiss (them) for cause” — no evidence, no process required, Trump has now created his own fetid kingdom. All he has to do is accuse someone of wrongdoing— or get someone else to do it. That’s it. That’s all that’s required.

The rules of law and logic are done. All it takes is an accusation. And that takes us back to the days when any accusation made by a white person about a Black person has the force of law — or what used to be called law. And, of course, it/he won’t stop there.

[Anonymous]

Anonymous wrote:

Anonymous wrote: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.

So, if accusations alone are enough to “compromise “ someone’s ability to perform their job effectively and to “dismiss (them) for cause” — no evidence, no process required, Trump has now created his own fetid kingdom. All he has to do is accuse someone of wrongdoing— or get someone else to do it. That’s it. That’s all that’s required.

The rules of law and logic are done. All it takes is an accusation. And that takes us back to the days when any accusation made by a white person about a Black person has the force of law — or what used to be called law. And, of course, it/he won’t stop there.

Of course! As Paul Krugman wrote: “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.”

Any public servant or anyone criticizing a Trump publicly could become the next Lisa Cook.

[Anonymous]

Who?

[Anonymous]

Stock futures are down. Tomorrow will be a bumpy day for the US markets…

[Anonymous]

The irony of all of this is that rates were already set to start going down. But these shenanigans will force foreign investors to require higher risk premia for U.S. Treasuries because we are politically meddling with the central bank.

Trump is shooting himself in the foot.

[Anonymous]

Between this and militarizing the country..plus tariffs and AI... yikes!!

I really did not think it could be so bad given that we actually made it through first term. I also didn't think fundamentally our system was so weak any one person like T could impact so heavily at least in such a short amount if time! It's pretty shocking and makes me believe that this country was due for a radical change. The worst is still to come unfortunately - it'll be quite a change until we see stability again.

[Anonymous]

Anonymous wrote:Between this and militarizing the country..plus tariffs and AI... yikes!!

I really did not think it could be so bad given that we actually made it through first term. I also didn't think fundamentally our system was so weak any one person like T could impact so heavily at least in such a short amount if time! It's pretty shocking and makes me believe that this country was due for a radical change. The worst is still to come unfortunately - it'll be quite a change until we see stability again.

Epstein files. As awful as this is, and with the awfulnesses expanding exponentially, we still need to ensure that we don’t completely lose our focus on the Epstein files.


As to the rest, it’s not really just “one person”. It’s one person plus the Heritage foundation and a good chunk of the Supreme Court, and most Republican politicians— who have been working very hard for several decades to get Trump and this country where we are now. Trump just got lucky — at a point when millions of people found his deficiencies to be genuinely charismatic. Right now, too, it’s possible that MAGA doesn’t even value stability. The point might be simply to break things.