New York —

Federal Reserve independence is sacrosanct, the free-market wisdom goes. So why is Wall Street not freaking out about the Trump administration’s campaign to infiltrate the central bank?

The answer, in part, is that investors have made a lot of money betting on the idea that Trump will back off, reined in by some combination of the law, advisers who know better, or those mythical market “vigilantes.”

It’s a strategy that risks blowing up in their faces.

ICYMI: Stocks and bonds barely flinched Tuesday after President Donald Trump said that he had fired Lisa Cook, a top Fed official who has become the latest target of the administration’s not-exactly-subtle campaign to pressure the central bank to lower interest rates.

Cook’s attorney said she would file a lawsuit challen

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