#Trump unleashed his latest attack shortly after [Trump appointee] Bill Pulte, the director of the #Federal #Housing #Finance Agency [#FHFA], said on social media that his office had investigated Ms. Cook & found that she *appeared* to have falsified bank documents to obtain favorable loan terms. Pulte said the FHFA had referred the matter to the #DOJ for a #criminal inquiry.

#economy #FederalReserve #tariffs #trade #immigration #labor #inflation #recession

In attacking #LisaCook, the FIRST #Black #woman to EVER serve as a #Fed governor, both #Trump & Pulte signaled anew their willingness to #weaponize the instruments of government to #influence monetary #policy, even though experts long have warned that interfering with the Fed & its #independence could bring about catastrophic economic & financial consequences.

#economy #FederalReserve #law #tariffs #trade #immigration #labor #inflation #recession

…#Trump is limited in his ability to remove an official from the #FederalReserve, a protection recently reaffirmed by #SCOTUS. Policymakers on the Board of Governors can only be removed for “cause,” which #legal experts define as breaking the #law or gross misconduct.

#LisaCook has consistently voted w/ #JeromePowell & is generally seen as aligned with him on #policy. Ousting Ms. Cook, whose term as governor runs through 2038, would give Trump ANOTHER seat on the 7-member board….

#economy

#Trump already has one unexpected seat to fill. Adriana Kugler, another #Fed governor, resigned unexpectedly this month, several months before her term was set to expire in Jan. Trump has nominated Stephen Miran, currently the chair of the Council of Economic Advisers, to fill out Kugler’s term. He must still be confirmed by the #Senate.

The White House has also started weighing potential replacements for #JeromePowell, whose term as chair ends in May.

#economy #FederalReserve #law #recession