President Trump made it clear he is seeking more control of the Federal Reserve. He said he fired Fed Governor Lisa Cook from the bank's board, but she says she's not leaving and will take the administration to court. At stake is the balance of power on the nation's top bank, which could undermine its long-held independence. Amna Nawaz discussed more with Lael Brainard and David Wessel.
Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors.
Geoff Bennett:
President Trump made it explicitly clear today he is seeking more control of the Federal Reserve. The president says he has fired Fed governor Lisa Cook from the bank's board, but she says she's not leaving and will take the administration to court.
Amna Nawaz:
Cook's departure would create two board vacancies in just the last month. What's at stake is the balance of power on the nation's top bank, which could potentially undermine its long-held independence.
Donald Trump, President of the United States: I want to thank you all for being here.
Amna Nawaz:
President Trump today doubling down on his fight to exert control over the Fed, repeating claims that he has the authority to fire Federal Reserve Board Governor Lisa Cook, accusing her of making false statements to get a better mortgage.
Donald Trump:
She seems to have had an infraction. And she can't have an infraction, especially that infraction, because she's in charge of, if you...
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