Last night, President Donald Trump posted a letter firing Federal Reserve Board Governor Lisa Cook. The reason? She was accused of listing two properties as her primary residences, which potentially gave her more favorable lending terms. This marks another escalation in the president’s battle for control of America’s central bank. We’re publishing our conversation early about whether this is legal, what the Fed might do, and how the Fed’s independence is more fragile than we may think.  Related episodes: <a href="https://www.npr.org/2024/08/14/1197968126/should-presidents-have-more-of-a-say-in-interest-rates"target="_blank" >Should presidents have more of a say in interest rates?</a> <a href="https://www.npr.org/2025/03/04/1235758702/executive-orders-federal-reserve-doge"target="_blank" >Can the Federal Reserve stay independent?</a> <a href="https://www.npr.org/2025/05/08/1249919772/jerome-powell-fed-reserve-job-security"target="_blank" >It's hard out there for a Fed chair</a><a href="https://www.npr.org/2020/06/12/876097416/patent-racism"target="_blank" >Patent Racism</a>For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at <a href="http://plus.npr.org/"target="_blank" >plus.npr.org</a>. Fact-checking by <a href="https://www.npr.org/people/g-s1-26724/sierra-juarez"target="_blank" >Sierra Juarez</a>. Music by <a href="https://dropelectric.bandcamp.com/"target="_blank" >Drop Electric</a>. Find us: <a href="https://www.tiktok.com/@planetmoney"target="_blank" >TikTok</a>, <a href="https://www.instagram.com/planetmoney/"target="_blank" >Instagram</a>, <a href="https://www.facebook.com/planetmoney"target="_blank" >Facebook</a>, <a href="https://www.npr.org/newsletter/money"target="_blank" >Newsletter</a>.   Learn more about sponsor message choices: <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a> <a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>

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