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Trump says he has fired Fed governor Lisa Cook, escalating his battle against the central bank (www.cnn.com)

submitted 4 months ago by memfree@beehaw.org to c/usnews@beehaw.org

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While the firing may be challenged in courts, even going up to the Supreme Court, Trump’s firing of Cook puts the central bank of the world’s largest economy in uncharted waters.

For example, it’s unknown whether Cook would have to leave the Fed’s board immediately, and if so, will Trump have the opportunity to nominate someone else to fill her seat.

Per Rachael Maddow, the President does not have the legal authority to fire Cook, but of course we'll have to see who does what.

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[–] TehPers@beehaw.org 6 points 4 months ago (1 children)

Sounds like official business to me. President can take a dump on the constitution as long as it's official business, right? If SCOTUS decides he doesn't have authority to do this, then I don't see how it doesn't directly contradict their earlier ruling.

[–] onslaught545@lemmy.zip 6 points 4 months ago

This isn't relevant to that. This is basically just an old man yelling at clouds. No one actually has to listen to him in this case.

It's like a customer telling you that you're fired.