US EditionPoliticizing the Federal Reserve Will Hurt US Economy
- President Trump has attempted to fire Lisa Cook, a member of the Federal Reserve Board, claiming mortgage fraud, though legal authority for this action is unclear.
- Cook stated, "President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so."
- Lawyer Abbe Lowell called Trump's actions "flawed" and lacking legal authority, supporting Cook's position.
- There are concerns that Trump's actions could politicize the Federal Reserve and undermine its independence.
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Montana Standard+23 Reposted by 23 other sources
Politicizing the Federal Reserve will hurt US economy
It’s not hard to find mistakes in the Federal Reserve’s recent history. But President Donald Trump’s latest attempt to erode the institution’s independence is dangerous. The president wants lower interest rates, but any benefits coming from that would probably be…
Coverage Details
Total News Sources28
Leaning Left3Leaning Right2Center22Last UpdatedBias Distribution81% Center
Bias Distribution
- 81% of the sources are Center
81% Center
11%
C 81%
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