“You’re fired!” President Donald Trump’s famous line from The Apprentice has been making a comeback since he returned to office in January, but a few days ago, he took it a bit too far by calling for the removal of Federal Reserve governor Lisa Cook . Federal prosecutors are investigating the governor for alleged mortgage fraud, accusing her of improperly listing two different homes as her primary residence. Trump deems the investigation enough evidence to fire Cook “for just cause.” The governor disagrees .
Trump has been hounding the Federal Reserve for months to lower rates, publicly attacking the Fed and its chairman, Jerome Powell. But his latest move jeopardizes Fed independence and sets a precedent for removing Fed governors over matters unrelated to monetary p