Ruhle: Trump kicks American exceptionalism to the curb with Fed Governor firing

Federal Reserve Independence - The independence of the Federal Reserve has been a key element of American exceptionalism for over a century [2] - A US president has moved to force out a Fed governor for the first time in 112 years [1] - Lisa Cook states she will not resign and will continue her duties [3] Potential Motivations - The attempt to remove Cook raises questions about the president's real motivation, possibly to replace Biden appointees with loyalists [3][4] - The president's frustration with the Fed chair is a possible motivation [4] Market Impact - The US dollar weakened against other major currencies following the president's announcement [5]