Last week, President Trump purported to fire a member of the Federal Reserve Board, Dr. Lisa Cook. And although he appointed Jerome Powell Chairman of the Federal Reserve during his first term, Trump has since directed constant scorn at Powell and repeatedly threatened to remove him as well. This controversy forms part of Trump’s broader effort to assert sweeping control over the executive branch. It also reveals his particular interest in loosening U.S. monetary policy. Yet his actions carry significant legal and economic risks of their own.
David A. Super (Thu,) studied this question.