Trump’s Takeover of the Fed

President Trump’s decision to try to fire a member of the Federal Reserve’s governing board is his most audacious attack yet on the independence of the central bank.

Ben Casselman, chief economics correspondent for The New York Times, discusses why Mr. Trump’s route to controlling the Fed passes through the governor, an economics professor named Lisa Cook.

Guest: Ben Casselman, the chief economics correspondent for The New York Times.

Background reading: 

• Mr. Trump’s move to fire Ms. Cook is a legally dubious maneuver that could undermine the independence of the nation’s central bank.
• Seeking to retool the Fed, Mr. Trump risks upending a pillar of the global economy.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Photo: Drew Angerer/Getty Images

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