Economists lambast Cook’s ‘firing’ for lack of due process
Expert says if Trump succeeds it will be the end of Fed independence; governor sues to void presidential order
Some 245 economists have spoken out against what they say is an unlawful attempt by US president Donald Trump to remove Federal Reserve governor Lisa Cook. The US economists wrote a co-signed letter on August 27 – addressed to the president, US Congress and the public – insisting Cook should not be removed “absent a clear, documented ‘for cause’ basis that would withstand judicial scrutiny”.
“Weakening that standard increases monetary policy uncertainty and forces markets to price political risk
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