Is the Fed Really Independent? | Jeffrey Tucker

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Here's why Trump's showdown with Fed governor Lisa Cook isn’t just about interest rates or mortgage fraud, says Jeffrey Tucker:

"It has to do with whether and to what extent the Fed is actually accountable to the President of the United States.

…We don't actually know what it means for there to be an 'independent' agency under the executive department.

…The Supreme Court has been very clear up to now that the President is in charge of the executive agencies…They can, in fact, fire employees.

…Now Trump is taking on the great question of American life, which is the status of the Federal Reserve under the law.”