Fed vs. inflation

Trump's Fed firing divides: "Now I'm worried"

Donald Trump's attempt to oust Fed Chairwoman Lisa Cook divides pundits.

Bloomberg columnist Bill Dudley, a former New York Fed president, has previously downplayed the threat from Donald Trump. "Now I'm much more worried. I think the markets should be too," he writes.

James Mackintosh of the Wall Street Journal doesn't think it's as big a deal. Everyone who was already worried remains so, and this doesn't add any new information. Mackintosh lists five reasons why the market is taking it easy: among them that it's already priced in and that the pressure on Fed Chairman Jerome Powell is easing.

But, he writes, markets sometimes ignore problems until they suddenly don't. "If that's what's happening, there's a problem," Mackintosh continues.

Fed Governor Lisa Cook is suing Donald Trump

Federal Reserve Governor Lisa Cook is suing Donald Trump after the president's attempt to remove her, CNBC reports.

It was on Monday that Trump said Cook "is getting fired" and referred to allegations that she falsified documents in home loan applications. Lisa Cook's lawyer has previously called Trump's dismissal an "illegal move".

CNBC writes that the lawsuit is starting a legal battle that is expected to end in the Supreme Court.

Negotiations await Friday: "Big case"

A judge has called for a first hearing regarding Donald Trump's attempt to fire Fed Governor Lisa Cook. This is reported by American media after Cook filed a lawsuit on Thursday.

It will begin at 10 a.m. local time. What will be discussed is Cook's request for an injunction, which would allow her to continue in office while the legal process is underway.

Jane Manners, an associate professor who studies presidential powers, tells CNN that it is a "major case."

- If we allow politics to determine who sits on the Federal Reserve, what does that mean for the future of our economy?

Trump accuses Cook of fraud, but she says it is a pretext to have her removed so that the central bank's leadership has a majority made up of his own nominations.