Trump vs. Fed Governor Cook

Federal Reserve & Political Pressure - President Trump is calling for the resignation of Fed Governor Lisa Cook due to alleged mortgage fraud [1][2] - Allegations stem from Cook designating two homes as primary residences to secure better loan terms [1] - A resignation would allow Trump to potentially appoint a fourth member to the seven-member Fed board [2] - Trump has pressured Fed Chair Jerome Powell to lower rates, criticizing the Fed's headquarters renovation [3] - Central bankers are rallying in support of the Fed's independence amidst political pressure [3][4] Potential Impact - The upcoming symposium in Jackson Hole aims to reaffirm institutional autonomy [4] - Increased political pressure on the Fed could impact monetary policy decisions [3][4]