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Trump vs Cook: Ex-president's 'joke' lands him in court
Federal Reserve Governor Lisa Cook is taking former President Donald Trump to court after he said he wants her off the Fed Board, accusing her of mortgage fraud back in 2021.
Cook, who joined the board in 2022 as its first Black woman, says Trump doesn't have the authority to just fire her.
Wider implications for US economy and politics
This lawsuit isn't just about one job—it could shape how independent the Federal Reserve stays from political pressure.
If Trump wins, future presidents might get more say over who runs the Fed, making big economic decisions less neutral.
The case could even reach the Supreme Court and set a major precedent for how much control presidents have over agencies that are supposed to stay above politics.