The Intelligence from The Economist Fed alert: can Trump fire a governor?
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Aug 27, 2025 
Rachna Shambhog, Business Affairs Editor at The Economist, Kinley Salmon, Latin America Correspondent, and Tom Nuttall, Chief Germany Correspondent, discuss the implications of Donald Trump's attempt to fire a Federal Reserve governor, highlighting issues of institutional independence. They delve into Uruguay's progressive legislation on assisted dying through the poignant story of Pablo Canepa and celebrate the cultural significance of shooting clubs in Germany, noting their community role and challenges amidst societal changes.
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Presidential Threat To Fed Independence
- Donald Trump publicly announced he would sack Fed governor Lisa Cook over alleged mortgage misstatements.
- The move challenges Fed independence and will likely be decided in the courts.
Unproven Mortgage Claims Against A Governor
- The allegations state Cook misrepresented primary-residence details on mortgage applications.
- The Department of Justice is investigating but Cook has not been charged and legal outcome remains uncertain.
'For Cause' Is Legally Unclear
- Supreme Court precedent requires Fed governors to be dismissed only for cause, but 'cause' is vague.
- Courts will need to define what misconduct qualifies as sufficient cause for removal.