President Trump fired Federal Reserve governor Lisa Cook on Monday, as the White House attempts to exert more influence over the central bank.Why it matters: It is a legally dubious move that further threatens the central bank’s political independence.
It has never happened before, so no one knows how any wrangling over the legality of firing Cook will play out, nor what it will mean for the Fed in the meantime.
I feel bad for these government workers. They’re just regular people, trying to get by in life, raise a family, enjoy a little of that “life, liberty, and the pursuit of happiness” that our founding Fathers promised. Now they have to spend every day, waiting for the ax to drop, for no good reason. You can’t plan for it or avoid it. One day, one of them might get some weird idea in their head, and the next thing you know, your fired, and considering yourself lucky that the FBI isn’t searching your house.