Pink Slip

President Trump is saying “you’re fired,” to Federal Reserve Governor Lisa Cook over fraud allegations. 

While it has never happened, the president is allowed to remove a Fed governor “for cause.” Trump, who has expressed repeated displeasure over unchanged interest rates, says it’s be-cause of mortgage fraud. Her termination letter (read it here) states Cook “may have made false statements on one or more mortgage agreements”—referring to 2021 loan documents that list houses in both Michigan and Georgia as her primary residence. 

Cook, appointed by former President Biden in 2022, has lawyered up, arguing that Trump “has no authority” to issue a pink slip and saying she will “continue to carry out” her duties. If her firing stands, Trump can appoint a more dovish (think: willing to cut rates) replacement.

Verse to consider whether your job security feels ironclad or a little iffy… “The person who trusts in the LORD, whose confidence indeed is the LORD, is blessed. He will be like a tree planted by water: it sends its roots out toward a stream, it doesn’t fear when heat comes, and its foliage remains green. It will not worry in a year of drought or cease producing fruit.”
Jeremiah 17:7-8 (CSB) (read full passage)