President’s attempt to fire governor Lisa Cook risks undermining central bank’s independence

Policymaker says she ‘will not resign’ and vows to fight president’s attack on central bank

President’s attempt to fire governor Lisa Cook risks undermining central bank’s independence

There is little precedent: no Fed governor has been dismissed for cause before

The central bank does not work properly if a president can bend it to his will

Gap between long-term and short-term borrowing costs is close to its widest for three years

The president’s intensifying assault on central bank independence risks backfiring

President’s moves could erode central bank’s credibility and push up long-term inflation and rates, economists say

Governor Lisa Cook has vowed to challenge her dismissal in a case that is likely to end up at the Supreme Court

History teaches us that chaos follows when leaders undermine the independence of central banks

US president attempted to sack the central bank governor as he intensified his attack on the institution