What would it mean for his influence
over the central bank?
>> Sure. So, if uh the president is
successful in his bid to oust Governor
Cook, that would give him another
opening um to another vacancy to appoint
someone on the Fed board in Washington.
There are seven governors on the board
and then that includes the chairman. Uh
right now there are two Republican
appointees. Uh Trump has nominated a
third. Um and that nomination is pending
because we we had a fed governor resign
in early August, Governor Adriana
Cougler. Uh now if there's a another
governor who steps down, four out of the
seven, that would give him a majority um
on the Fed board, which would, you know,
potentially mean he has four uh
individuals um that would that would
presumably or could potentially support
his bid for lower interest rates. I
mean, that is the big push that he's
been making throughout the year and we
heard former Vice Chair Lil Brainer
talking about it on Bloomberg TV earlier
that it's not really about Governor
Cook. It seems to be part of this bigger
effort to apply pressure on the Fed.
>> Yeah. What would it mean though to reach
beyond Washington and into these
regions?
>> Sure. So, if you had a majority on the
Fed board, um the board does uh operates
independently from the 12 banks. They're
run by boards of directors. They choose
their own leaders. Um but essentially
one um idea that's gotten a lot of
heightened attention today after Lisa
Cook's firing is this process where the
board has to reauthorize every 5 years
the 12 presidents of the regional banks.
And so, uh, one concern now and and an
idea that I think administration
officials are aware of this authority is
that, uh, if you had four people on the
board who, um, didn't want to vote to
reauthorize some of these regional
presidents, thought that they either
weren't doing a good job or maybe you
didn't like that they uh, weren't
supporting your calls for lower rates
that um, maybe you could exert some
pressure there uh, you know, an appeal
to board members that uh, that were
aligned with your views on on that
issue. I mean, this is all it's a bit
hypothetical. It's down the line. Um,
but this this is something that uh
administration officials are thinking
about and looking