Summary
President Trump stated he wants more control over the Federal Reserve and said he fired Fed Governor Lisa Cook. Cook, however, plans to challenge this decision in court. This situation could impact the Federal Reserve's independence.
Key Facts
- President Trump wants more influence over the Federal Reserve.
- Trump announced he removed Fed Governor Lisa Cook from her position.
- Lisa Cook disagrees with her removal and intends to go to court.
- The Federal Reserve is the central bank of the United States.
- The independence of the Federal Reserve is an important tradition.
- The balance of power at the bank is part of this ongoing issue.
