Fed Gov. Lisa Cook will file a lawsuit challenging Trump's attempt to fire her

Fed Independence & Political Interference - Trump's attempts to influence the Fed by criticizing officials and attempting to remove Cook are unprecedented and potentially illegal [2] - These actions raise concerns about the central bank's ability to remain independent from daily politics [2] Potential Economic Consequences - The situation has potentially huge consequences for the US economy and Americans [2] - The core issue revolves around interest rates, with Trump desiring lower rates [1] Personnel & Legal Challenges - Cook states she will not resign and will continue her duties [2] - Cook's attorney will file a lawsuit challenging the firing attempt, citing a lack of factual or legal basis [2]