Trump's 'great battle' with the Federal Reserve continues to escalate.
1️⃣ Federal Reserve Governor Cook formally sues Trump.
Federal Reserve Governor Lisa Cook has filed a lawsuit against Trump over his dismissal, accusing the president of overreach. Trump had previously announced her immediate termination, sparking constitutional and legal controversies.
2️⃣ The independence of the Federal Reserve faces historic challenges.
The Trump administration is reportedly studying how to control the selection process of regional bank presidents of the Federal Reserve, attempting to reshape the monetary policy decision-making process through political appointments. Former Federal Reserve Vice Chair Brainerd warned: This move could completely undermine the independence of the Federal Reserve since 1951, leading to soaring inflation and rising long-term interest rates.
