Trump renews effort to fire Fed's Cook, continuing attacks on central bank - KITCO
Trump renews effort to fire Fed's Cook, continuing attacks on central bank - KITCO
Source: KITCO
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DW NOTE
Trump cannot legally fire a Fed governor. Lisa Cook holds a statutory term through 2024 — or 2034, if the reference is to her Board term rather than her FOMC vote. Either way, the Federal Reserve Act is explicit: governors serve fixed terms and can only be removed for cause, which courts have interpreted to mean malfeasance, not policy disagreement. The President who signed that law into being was Woodrow Wilson, and he did so precisely to prevent this.