Source: Macroeconomic Policy Nexus
by David Beckworth & Kaleb Nygaard
“This week’s Supreme Court arguments over President Trump’s attempt to remove Fed Governor Lisa Cook have put an unusually bright spotlight on a question most people rarely stop to consider: what, exactly, is the Federal Reserve as an institution and how did its internal governance come to look the way it does? While the headlines focus on removal protections and presidential power, the deeper issue is the Fed’s evolving architecture: who sits at the table, who doesn’t, and how those patterns have changed over time.” (01/23/26)
https://macroeconomicpolicynexus.substack.com/p/who-sits-at-the-feds-table-part-i