For decades, the Federal Reserve has managed America’s interest rates free from the kind of political pressure that can ramp up inflation and drive economies into a recession. That successful run could come to an abrupt end if President Trump successfully ousts Lisa Cook, a Fed governor.
The reason lies in a little-known loophole buried in the Fed’s machinery that could allow our central bank’s independence to be eviscerated virtually overnight. That loophole is opening in less than six months.
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