Trump’s Latest Attack on the Fed Is Cause for Alarm

Central banks are independent for a reason.

Lisa DeNell Cook, then-nominee to be a member of the Board of Governors of the Federal Reserve System, is sworn in during a Senate Banking nominations hearing in Washington, D.C. August 26, 2025, 1:21 PM Comment icon View Comments ( )

Trump’s Second Term

Ongoing reports and analysis

U.S. President Donald Trump’s latest assault on the independence of the U.S. Federal Reserve, and by extension the stability of the U.S. and global financial systems, came in his attempted firing on Monday of Lisa Cook, a Federal Reserve governor.

The move is his latest attempt to force the U.S. central bank to do his bidding—namely, to lower interest rates in a bid to turbocharge economic growth on

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