Presidential Power and the Federal Reserve

There’s been an amusing turn in the saga involving President Trump’s vile effort to remove Lisa Cook as governor of the Federal Reserve. Trump has relied on his flunkies to cook up allegations of mortgage fraud against Cook—and other foes as well—but now news organizations have blown big holes in the scam. They’ve reported that numerous Trump officials, and even relatives of his top ally in the anti-Cook effort, have done similar things on their mortgages. Meanwhile, a new CBS News poll contains brutal findings for Trump across the board. Crucially, it finds that truly huge majorities oppose Trump’s efforts to interfere with the Fed—yet another way this whole charade is backfiring on him. We talked to New Republic staff writer Matt Ford, who covers legal affairs. He explains why Trump’s use of this tactic is so corrupt, why the stakes in the battle over Cook are larger than they appear, and what might happen when it all lands at the Supreme Court.

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