Trump’s Controversial Attempt to Expel Lisa Cook from Federal Reserve Board

In recent news, President Donald Trump made headlines with his decision to attempt the expulsion of Lisa Cook from her position as the first Black female member of the Federal Reserve board of governors. This move comes following days of rising tension and speculation. Trump’s justification hinges on what he refers to as ‘sufficient cause.’ He alludes to unsanctioned accusations of Cook’s involvement in mortgage fraud. Representing Cook, a spokesperson countered these allegations firmly, hinting at a looming legal battle. ‘President Trump has wrongfully sought to terminate my appointment based on non-existent grounds that are not supported by law; he lacks the authority to carry out this act. I will steadfastly continue my role to support the United States economy, as has been my mission since 2022,’ she stated. Cook’s legal counsel, Abbe Lowell, vowed to take necessary steps against this illegitimate attempt.

As is common with Trump, there are deeper implications in his actions. Cook’s potential dismissal occurs against a backdrop of Trump wielding excessive influence over the national central bank in order to manipulate interest rates. Trump’s expressions of interest in replacing Fed Chair Jerome Powell show a clear attempt to maintain a tighter grip on US economic policy. This is essentially about power and the narrative extends beyond the Federal Reserve.

In a May ruling by the Supreme Court that allowed Trump to unseat members of independent agencies like the National Labor Relations Board and the Merit Systems Protection Board, regardless of the tenure of their appointments, the conservative majority notably remarked that the Federal Reserve would be an exception. The justices asserted loudly that the Federal Reserve should not be susceptible to such whimsical tugs of presidential power. It should have been certain that their instructions would be disregarded, given Trump’s unpredictable nature. Judging from recent events, it’s apparent that a mere seven months into his second term, President Trump reigns with an iron fist.

Highlighted by an FBI raid on his house and office on August 22, Trump’s former National Security Advisor John Bolton has found himself a target of presidential ire. Bolton, having evolved into a significant critic and adversary of the President, appears to be the focus of an investigation into classified documents relating to national security. Curiously, the list of Trump’s foes is extensive, but Bolton sits at its apex— primarily due to his affiliation with the Republicans and his past as an employee of the first Trump administration.

Bolton’s defection in 2019 and subsequent tell-all memoir exposed a raw nerve in an administration known for its combative relationship with facts and reality. Over the last five years— and particularly in the weeks leading up to Trump’s recent Alaska summit with Russian President Vladimir Putin— Bolton’s criticism of the administration became relentless. Summoning it up, Bolton asserted that while Trump often grapples with reality, his issue was not so much deliberate deception but promoting what he genuinely believed. ‘In his perspective, he molds the truth as per his desires, a trait evident in his rhetoric today,’ Bolton surmised.

Trump’s aggressive actions against Bolton seem intended to serve as a warning to potential dissenters in his close circle. Treachery will be met with severe repercussions. However, it’s crucial to consider that Trump’s specific antagonism towards Bolton doesn’t only stem from his act of betrayal, but also the nature of the criticism leveled against him by Bolton. It’s not just the lies that Bolton points out but also the president’s persistent belief in far-fetched ideas.

Bolton refrains from accusing Trump of lying for the sake of manipulation. Instead, his charge is far more nuanced—Trump truly believes in the often absurd statements he makes. In these times, Trump appears to be purging anyone presenting evidence that challenges his personal narrative.

For instance, the president recently terminated Erika McEntarfer, the Bureau of Labor Statistics Commissioner when she released updated job market data that contradicted his grandiose claims. A similar scenario played out when Defense Secretary Pete Hegseth fired Lt. Gen. Jeffrey A. Kruse, director of the Defense Intelligence Agency. The agency’s assessment showed that the Iran nuclear facilities where notably still functioning despite Trump’s claims of total destruction.

These individuals were merely executing their jobs, rooted in the release of data and analysis that may conflict with Trump’s version of reality. However, the message is now loud and clear: contradiction of the president’s reality will no longer be tolerated.

It is difficult to discern the borderlines of Trump’s tendencies to lie, exaggerate, and drift into delusions. Much of his rhetoric is hype, something that has often been begrudgingly accepted as part and parcel of his eccentric personality. But something seems to have changed in his current term. He appears to be encapsulated in an echo chamber filled with misinformation, unwarranted adulation, and delusion.

There seems to be a shift from adapting the truth to avoid accountability or crediting himself for unearned victories, to existing within a self-created distortion of reality. The cultivation of this fantasy world is, in part, aided by blind followers and henchmen who continuously contribute to a self-assuring feedback loop.

There are members of his orbit who have willingly surrendered their judgement and analytical thinking, viewing Trump almost as a supernatural figure. The fact that he has survived two impeachments, various legal trials, sex scandals, an assassination attempt, and even incited an attack on the Capitol, only to be reinstated in the White House by voters, seems to further this belief.

Meanwhile, others appreciate the utility of a pliable president preoccupied by his indulgence in whims, from redecorating a historical monument, the Rose Garden, to deploying the National Guard and federal agents to Washington, D.C. streets. Trump perceives his power to be limitless, operating without any boundaries.

His remarks no longer bear any resemblance to reality. His recent boast about record-high poll numbers disregards the reality of his plummeting approval rates. His followers, however, continue to reinforce their leader’s illusion.

Suspicions mount that much of what is presented to him is orchestrated by faithful disciples and possibly, less loyal opponents. Entities like the Russian FSB could be involved. Recently, Trump was seen in the Oval Office donning one of his signature red hats. However, this one held a different message: ‘Trump Has Always Been Right About Everything.’

In the world which he occupies almost constantly, this statement may very well hold true. To the rest of us, this symbol serves as a grave reminder that the man wearing it is increasingly disconnected from the real world.