Fed Governor Lisa Cook is suing Donald Trump to keep her job after he accused her of mortgage fraud. Trump wants to remove Cook, arguing it's about restoring the Fed's independence, which he claims has been compromised by political influence and 'wokeness'. Critics counter that the Fed's actions, including a DEI initiative, have strayed from its core mandate. While the legal battle unfolds, the market reaction has been muted, possibly because investors anticipate Trump replacing Cook and Chair Powell with experienced professionals. Cook's past actions, including involvement in online attacks against academics with opposing views, fuel the debate surrounding her suitability for the role.

Prepared by Lauren Mitchell and reviewed by editorial team.