President Donald Trump moved to fire Federal Reserve Governor Lisa Cook late Monday, becoming the first president to attempt such a removal in the 112-year history of the central bank . In both of his terms as president, Trump has urged the Fed to slash interest rates in an effort to boost the economy. If Trump replaces Cook, his appointees would make up a majority of the Fed board, granting him significant influence over the agency tasked with setting interest rates. Analysts who spoke to ABC News voiced concern about the potential threat to the Federal Reserve's independence, saying the move risks high inflation and economic instability over the long term as low interest rates struggle to rein in price increases. The attempted firing arrives at a delicate moment for the U.S. economy. In
Trump's move to fire Lisa Cook threatens Fed independence, risks inflation: Experts

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