Donald Trump has declared war on the Federal Reserve’s independence.

On Monday, the president ordered the removal of Lisa Cook from the central bank’s Board of Governors. Cook, an economist appointed by Joe Biden, holds one of the 12 votes that determine whether the Fed will raise or lower interest rates.

Trump wants a central bank that will do his bidding. But he cannot legally replace Federal Reserve governors before their terms are up, unless they commit acts of neglect or malfeasance. So, his administration launched an investigation into Cook with the aim of generating a pretext for her ouster. They settled on the allegation that Cook once falsified records when applying for a mortgage. She contests the legality of her dismissal and refuses to forfeit her position.

To many liberals,

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