Reported about 4 hours ago
President Donald Trump dismissed Federal Reserve Governor Lisa Cook, intensifying his efforts to exercise authority over the traditionally independent institution. Cook was accused of mortgage fraud, a claim made by a Trump appointee. Despite support from Senate Democrats, Trump asserted that Cook's alleged deceit undermined public confidence in the Fed, justifying her removal. This decision might instigate a legal challenge and reflects Trump's ongoing campaign to reshape the Fed before he can replace Chair Jerome Powell in 2026.
Source: YAHOO