Federal Reserve Governor Lisa Cook has come out fighting, threatening to sue President Trump after he said he was firing her “effective immediately”.

He cited unproven allegations of mortgage fraud, setting the stage for a landmark battle that could define the limits of his power over the Fed, the body that sets interest rates for the world’s mightiest economy.

But the battle also needs to be seen in the wider context of Trump’s exercise of power and expectation of loyalty.

See Full Page