Reply to Trump removes Fed Governor Lisa Cook

Forum Index » Political Discussion

Reply to "Trump removes Fed Governor Lisa Cook"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=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.

[quote]

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.
[/quote][/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics