Trump's 'Fateful Hand' on the FED: Following Erdogan's Example?

US President Donald Trump is attempting to control the Federal Reserve (FED) by dismissing a member of the board of directors, a move described as a "premeditated coup" by the Wall Street Journal.

This action is legally questionable, as the president can only remove a member "for cause." Trump claims irregularities on the part of Lisa Cook, the first black woman on the Fed's board, regarding a mortgage loan.

This move raises concerns about the Fed's independence and potential long-term inflation risks. According to Foreign Policy, Trump seeks to lower interest rates to boost the economy, but this could lead to inflation.

US media report that interfering with the independence of central banks is dangerous, citing examples such as Erdogan's Turkey, where attempts to control the central bank led to high inflation.

The Wall Street Journal warns that if Trump manages to bring the Fed under his control, he will be charged with the results and any return of inflation.