Trump’s Attempt to Fire Lisa Cook is an Authoritarian Power Grab
WASHINGTON, D.C. – President Donald Trump late Monday unlawfully attempted to fire Federal Reserve Governor Lisa Cook.
Statement from Lisa Gilbert, co-president of Public Citizen:
“This action is an authoritarian power grab that blatantly violates the Federal Reserve Act. The Fed is designed to be independent of politics. Politicizing the Fed and firing Federal Reserve Governor Cook without cause could be devastating for monetary policy and the global economy.”
Statement from Bartlett Naylor, financial policy advocate for Public Citizen:
“Wannabe dictator Donald Trump has violated both law and custom that separate presidential powers from monetary policy, which Congress expressly vested in an independent Fed.”