What happened

The White House yesterday asked the U.S. Court of Appeals in Washington, D.C., to allow President Donald Trump to oust Federal Reserve Governor Lisa Cook before the Fed’s rate-setting policy meeting this week. A federal judge blocked Trump’s attempt last week, saying his unproven allegations that Cook committed mortgage fraud before joining the Fed were not sufficient cause to fire her. Newly unearthed documents also undermined Trump’s allegations.

Who said what

The push to remove Cook has “quickly become the defining battle in Trump’s effort to take control of the Fed,” which Congress crafted in the 1930s to “insulate presidentially appointed governors from political pressure,” The Wall Street Journal said. This is the “first time in the central bank’s 112-year hi

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