Fed shake-up: Trump fires Governor Lisa Cook; accuses her of ‘potentially criminal conduct’

 Donald Trump ousted Federal Reserve Governor Lisa Cook, alleging mortgage fraud, a move contested legally. Cook denies wrongdoing, vowing to fight the dismissal. Experts question Trump’s authority, citing the Fed’s independence. This action, coupled with another vacancy, allows Trump to nominate loyalists, potentially impacting the Fed’s credibility amid inflation concerns. The Justice Department is investigating the allegations against Cook. Donald Trump ousted Federal Reserve Governor Lisa Cook, alleging mortgage fraud, a move contested legally. Cook denies wrongdoing, vowing to fight the dismissal. Experts question Trump’s authority, citing the Fed’s independence. This action, coupled with another vacancy, allows Trump to nominate loyalists, potentially impacting the Fed’s credibility amid inflation concerns. The Justice Department is investigating the allegations against Cook.