Displaying items by tag: Susan Monarez

The conflict between Federal Reserve governor Lisa Cook and Donald Trump represents a profound clash over institutional independence and executive authority. Trump says he has dismissed Cook, alleging mortgage fraud, but her attorney insists the president lacks the power to remove a governor in this way. According to the Federal Reserve Act, governors should serve a fourteen-year term and may only be removed ‘for cause’, but what qualifies as ‘cause’ is unclear. Trump’s move follows similar attacks against other prominent Democrats, raising concerns about politicising independent regulators. Legal scholars note that recent supreme court rulings granted broader executive authority over some agencies, but not over the Federal Reserve. Cook, refusing to resign, has vowed to challenge Trump’s actions in court. The outcome of this struggle could potentially set a historic precedent. In a separate development, Trump has fired the head of the Centre for Disease Control, Susan Monarez, only a month after she was appointed: see