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]Excerpt from “In the Matter of Lisa Cook”
Trump’s attempt to fire a Fed governor is illegal. Now we find out whether that matters.
PAUL KRUGMAN
AUG 26, 2025

This is not a case a nonpolitical Justice Department would even consider bringing to trial, or have much hope of winning. And again, it has no relevance at all to Cook’s work at the Fed, providing zero justification for dismissal “for cause.”

But of course Trump’s attempt to fire Cook has nothing to do with allegations of fraud. Her real crime, in his mind, is that she isn’t an obedient minion (oh, and that she’s a black woman.) The goal of his attempt to fire her is to replace independent Fed officials with lackeys who will take Trump’s orders — not just by getting rid of Cook but by intimidating everyone else.

As I wrote yesterday, the real message here is “If you get in our way we will ruin your life.”

The immediate test here is how the Fed itself responds. Cook is doing the right thing by refusing to resign. Jerome Powell now faces a moment of truth: Will he back her up, until or unless Trump demonstrates that he has the legal authority to fire her?

What if Trump uses some kind of force — deployment of U.S. Marshals? — to block Cook from continuing to work? Good. That will demonstrate to everyone the grotesqueness of this power grab.

And one way or another, this will end up in the courts, where we will find out whether our judicial system has any integrity left.

What will all of this mean for financial markets? The markets keep shrugging off the Trump administration’s lawlessness, and maybe they’ll do it again. But really, it doesn’t matter. This isn’t, ultimately, about monetary policy. It’s about whether we are still a nation of laws.[/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