A U.S. appeals court declined on Monday to allow Donald Trump to fire Federal Reserve governor Lisa Cook — the first time a president has pursued such action since the central bank’s founding in 1913 — in the latest step in a legal battle that threatens the Fed’s longstanding independence.
The decision by the U.S. Court of Appeals for the District of Columbia Circuit means that Cook can for now remain at the Fed ahead of its policy meeting on Tuesday and Wednesday, when it is expected to cut U.S. interest rates to shore up a cooling labour market.
The court denied the Justice Department’s request to put on hold a judge’s order temporarily blocking the Republican president from removing Cook, an appointee of Democratic former president Joe Biden.
It’s part of trump’s twisted plan. Devalue the dollar so it’s easier to sell and export stuff so you bring manufacturing back, and this bring back that golden age.
That it was only golden because the rest of the world didn’t have manufacturing yet or it was blown up in the war is not taken into account. That it might lead to sweatshop like conditions this time around is not his problem.