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Trump move to fire Fed’s Cook said to threaten independence of Fed, Supreme Court

By Neil Roland ( August 26, 2025, 18:42 GMT | Insight) -- Independent experts reacted with alarm today to President Trump’s attempt to fire US Federal Reserve Governor Lisa Cook, saying it threatens both the independence and credibility of the Fed and the US Supreme Court. “If [Fed Chair Jerome] Powell caves, or the Supreme Court acts supine again and validates Trump’s illegal declaration, the implications will be profound and disastrous,” Nobel Prize-winning economist Paul Krugman wrote on Substack. “It’s about whether we are still a nation of laws.” Another Nobel Prize-winning economist, Simon Johnson, wrote that attempting to inject political pressure “is likely to backfire.”Independent experts reacted with alarm today to President Trump’s attempt to fire US Federal Reserve Governor Lisa Cook, saying it threatens both the independence and credibility of the Fed and the US Supreme Court....

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