There's disturbing news in today's Associated Press feed:
Trump say's he's firing Fed Governor Lisa Cook, opening new front in fight for central bank control
By Christopher Rugaber and Will Weissert, August 26, 2025
We can safely assume that Trump wants to replace Federal Reserve Governor Cook with someone more sympathetic to his own ideas. That would set a terrible precedent. Packing the Fed with a President’s supporters is to be avoided, or so we were taught in our graduate school monetary policy class. On a personal level, the charge against Cook is almost nothing compared to the stunts I suspect Trump pulls with his real estate business.
It’s outrageous. I don't dare put this in my social media posts. I'd lose friends. But still: sic temper tyrannis!
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