Source: New York Post
by Rich Lowry
“Uncharacteristically for him, President Donald Trump is being too modest in asserting his power over the Federal Reserve. He has fired Lisa Cook ‘for cause,’ citing a clearly pretextual alleged mortgage infraction — when as a constitutional matter, he should be able to fire her, or Chairman Jerome Powell, for any reason he deems appropriate. The independence of the Federal Reserve largely rests on its status as a constitutional anomaly, exercising executive authority without being subject to the same rules as the rest of the executive branch.” [editor’s note: I wonder if Lowry can point me to the constitutional provision empowering the president to fire … well, anyone. It seems to be missing from my copy. He can appoint people to certain posts, sometimes requiring Senate permission, but firing isn’t mentioned – TLK] (08/31/25)