Start Here Fed Up: Lisa Cook Refuses to Be Fired
27 snips
Aug 27, 2025 Devin Dwyer, ABC News senior Washington reporter, provides incisive insights into the political landscape. The drama unfolds as Lisa Cook challenges President Trump's authority to fire her from the Federal Reserve. They discuss the implications of her potential dismissal on the Fed's independence amid rising political pressures. Additionally, breakthroughs in weight loss medications are highlighted, emphasizing a shift from injectables to oral treatments. Dwyer also navigates the complexities of gerrymandering, shedding light on ongoing redistricting battles across the country.
AI Snips
Chapters
Transcript
Episode notes
Fed Independence Is Built In
- The Fed was created to be insulated from political influence and members can only be removed for cause under its charter.
- Removing a governor would be an unprecedented legal test with big economic stakes.
Lisa Cook's Refusal To Quit
- Lisa Cook, appointed in 2022, is the first African-American woman on the Fed and denies allegations against her.
- She says she will not be bullied out of office and plans to challenge her dismissal in court.
Court Fight Could Redefine Removal Power
- Legal precedent suggests the Fed's board is more insulated from presidential removal than many other agencies.
- A court fight over Cook could reach the Supreme Court and set a lasting precedent on Fed removal power.