You people are so divorced from reality I can almost see how you’d vote for him. |
Your salient point is that it’s a matter of “black and white”. |
Trump has fired a board member for cause. If the chairman refuses to recognize the firing and seats someone who is fired, that is negligence and cause for firing. |
+1 Trump hates laws unless he can use them to take down his enemies. |
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From Nobel Prize winning economist Paul Krugman
Whatever happens, Trump’s campaign to take over monetary policy has shifted from a public pressure to personal intimidation of Fed officials: the attack on Cook signals that Trump and his people will try to ruin the life of anyone who stands in his way. There is now a substantial chance that the Fed’s independence, its ability to manage the nation’s monetary policy on an objective, technocratic basis rather than as an instrument of the president’s political interests and personal whims, will soon be gone. So why aren’t markets freaking out? Nations in which central banks lose their independence sooner or later suffer high inflation, especially when they are taken over by autocrats who buy into crackpot economic doctrines. And Trump, who has been demanding large rate cuts because, he claims, the economy is running hot — which almost every economist would say is a reason to raise rates, not cut them — certainly fits that pattern. Yet although there have been small tremors in the bond and currency markets, there have been no significant upheavals in financial markets that reflect the severity of the situation we are in. Throughout this episode, the stock market has remained fairly flat and bond yields haven’t spiked. Why not? Do financial markets doubt that Trump will get his way? Or do they reject mainstream economics and the clear examples of countries like Turkey and Argentina? Neither. My read of economic and financial history is that market pricing almost never takes into account the possibility of huge, disruptive events, even when the strong possibility of such events should be obvious. The usual pattern, instead, is one of market complacency until the last possible moment. That is, markets act as if everything is normal until it’s blindingly obvious that it isn’t. The inimitable Nathan Tankus summarizes this by saying that the market is not, as stylized economic models would have us believe, a mechanism that pools the knowledge and informed judgment of millions of investors. It is, instead, a “conventional wisdom processor.” That is, it reflects views that seem safe to hold because many other people hold them — and the crowd only abandons those views when they become blatantly unsustainable. |
| Trump is targeting her because she's a black woman. If she was for lowering the rates he wouldn't do this. He's trying to manipulate the Fed to get what he wants by being racist. |
| Her lawyer says the Senate and White House were given this information at the time she was nominated. |
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WSJ: “The Justice Department has opened a criminal investigation into Federal Reserve governor Lisa Cook, issuing subpoenas as part of an inquiry into whether she submitted fraudulent information on mortgage applications, according to U.S. officials familiar with the matter.
The initial scrutiny has centered on Cook’s properties in Ann Arbor, Mich., and Atlanta, with investigators using grand juries as part of the probe, the officials said.” |
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Detroit News: Lisa Cook faces Justice Department criminal investigation of mortgage fraud allegations
https://www.detroitnews.com/story/business/2025/09/04/lisa-cook-faces-federal-criminal-probe-of-mortgage-fraud-allegations/85974867007/ |
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No, he can’t remove her.
“A federal judge on Tuesday night blocked President Donald Trump from firing Federal Reserve Governor Lisa Cook as her lawsuit challenging her termination plays out in court.” https://www.cnbc.com/amp/2025/09/09/fed-lisa-cook-trump-powell-judge-jia-cobb-pulte.html |