When I heard about President Donald Trump’s attempt to fire Federal Reserve governor Lisa Cook, the lyrics to the iconic 1980s song lamenting that you “don’t know what you got (till it’s gone)” popped into my head. Cook is fighting the firing, and she appears to have a good chance of winning. But Trump just put a major crack in the Fed’s independence, and Americans are going to realize how beneficial that independence was — for generating lower mortgage rates, keeping inflation low and combating crises — once it’s gone.

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