Breitbart Business Digest: How the Fed Destroyed Its Own Independence

From Conventions to Crisis: The Breakdown of Federal Reserve Independence

How did we get here?

This week saw a series of unprecedented events that may signal the end of the form of central bank independence as we have known it for more than a century.

First, we had President Donald Trump’s announcement that he was removing Lisa Cook from the Federal Reserve Governor seat she has occupied since she was confirmed in 2022. Never before has a U.S. president attempted to remove a Fed governor.

Next, the Federal Reserve itself appeared to rebuke the president , seeming to ignore his order removing Cook while signaling they would only defer to the…

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