Trump's Power Play at the Federal Reserve: A Threat to Monetary Policy Independence The latest salvo in Donald Trump's ongoing battle against the Federal Reserve has raised concerns about the eroding independence of the central bank.
The president's renewed effort to fire Governor Lisa Cook, who would be the first Black woman to hold the position if removed, is part of a broader campaign to assert control over the Fed's decision making process.
The White House's letter to Cook, signed by Deputy Chief of Staff Dan Scavino, accuses her of mortgage fraud and threatens up to 30 years in prison if convicted.