Trump move to oust Lisa Cook questions legality and Fed policy control

Good morning, Frank. The firing of Fed Governor Lisa Cook does open dramatic questions or create dramatic questions about the legality of the move, the independence of the Fed, and of course, the outlook for monetary policy. The president cited his authority under the Constitution in the Federal Reserve Act of 1913. In stating he had the power to remove Cook for what the president said was quote allegedly making false statements on one or more mortgage agreements. The president said in the letter to Cook, " ...