US EditionTrump Flexes Executive Might over Economy
President Trump's firing of Fed Governor Lisa Cook threatens the Federal Reserve's independence amid rising U.S. debt, which now consumes nearly 20% of federal spending, experts say.
- On Monday, President Donald Trump fired Federal Reserve Board Governor Dr. Lisa D. Cook this week, citing mortgage-fraud allegations; Abbe Lowell, Cook's lawyer, said she will file a lawsuit while Cook claimed there was 'no cause' for removal.
- Economic analysts point to fiscal dominance as rising public debt exceeding 100% of GDP pressures the Federal Reserve, while President Donald Trump demands lower rates, citing 'costing taxpayers trillions,' and Fed Chair Jerome Powell signals possible cuts at the September 16 meeting.
- Dr. Lisa D. Cook's supporters note that before being targeted, she was a top economist and the first Black woman appointed to the Federal Reserve Board in 2022, while the Joint Center for Political and Economic Studies convened a coalition urging public support.
- Legal experts warn that the attack on Cook undermines Federal Reserve independence and marks a dangerous escalation, as removal is permitted only for 'cause' and she faces no charges, raising legal stakes.
- Looking ahead, analysts caution that the pressure on the Fed will persist regardless of who occupies the Oval Office due to a fiscal trajectory locked in years ago and Congress' refusal to act, with federal interest payments already absorbing nearly one-fifth of federal spending.
101 Articles
101 Articles
Breitbart Business Digest: The Establishment's Inflated Case for Keeping Cook
A bipartisan who’s who of the economic establishment has fired a fusillade of foolscap at the Supreme Court, insisting that President Trump must not be allowed to remove Fed Governor Lisa Cook. The post Breitbart Business Digest: The Establishment’s Inflated Case for Keeping Cook appeared first on Breitbart.
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I'm Isaac Saul, and this is Tangle: an independent, nonpartisan, subscriber-supported politics newsletter that summarizes the best arguments from across the political spectrum on the news of the day — then “my take.”Are you new here? Get free emails to your inbox daily. Would you rather listen? You can find our podcast here.Today’s read: 13 minutes.✂️The Fed cuts rates by 0.25%. Plus, is China an enemy of the United States? Don’t wait to become…
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