Toobin: Lisa Cook’s Firing Is Part of Trump’s ‘Larger Agenda’ to Turn Independent Agencies into ‘Agencies of the President’

EXCERPT:

TOOBIN: “As you pointed out earlier, the Fed‘s been around for — since 1913, and no president has ever tried to fire a federal governor — governor of the Fed for cause. The definition of cause has never been settled by the courts. But this is part of a larger agenda of the president to turn independent agencies like the Federal Trade Commission, like the Securities and Exchange Commission, and turn them into agencies of the president, just like members of the cabinet. And the Supreme Court has said that the Fed is different. As recently as May, the Supreme Court has said the independence of the Fed is even greater than the other independent agencies. So I think the courts are going to have to take a very close look at whether this attempt to fire a Fed member is constitutional."