U.S. News

2556 readers

57 users here now

News about and pertaining to the United States and its people.

Please read what's functionally the mission statement before posting for the first time. We have a narrower definition of news than you might be accustomed to.

Guidelines for submissions:

Post the original source of information as the link.
If there is any Nazi imagery in the linked story, mark your post NSFW.
Advocating violence is not allowed on Beehaw in general.
If there is a paywall, provide an archive link in the body.
Post using the original headline; edits for clarity (as in providing crucial info a clickbait hed omits) are fine.
Social media is not a news source.

For World News, see the News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

alyaza@beehaw.org

rs5th@beehaw.org

Powderhorn@beehaw.org

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

4 comments fedilink hide all child comments

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.

top 4 comments

sorted by: hot top controversial new old

[–] 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.

[–] WatDabney@fedia.io 5 points 4 months ago

Huh...

This might just be an exceedingly rare instance in which those corrupt and compromised conservative fuckheads on the Supreme Court won't just rubber-stamp whatever Trump wants, since pissing off the Fed, and the entire banking/investing industry whose interests it represents, could be even worse for them than pissing off the Toddler-in-chief.

[–] Midnitte@beehaw.org 5 points 4 months ago

Well, there goes the independence of the Fed, and our financial well-being with it.

Next stop, serfdom.