Nearly 600 Economists Call for Defending Federal Reserve Independence, Co-sign Open Letter in Support of Powell

BlockBeats News, September 2nd: Many prominent economists have come out in support of Federal Reserve Board Governor Lisa Cook, after U.S. President Trump sought to dismiss her on suspicion of mortgage fraud. Nearly 600 economists have signed an open letter supporting Cook, stating that the threshold for removing a Federal Reserve Board member is very high, and elected officials should avoid actions that erode the Fed's independence. The open letter was published on Tuesday and signatories include Nobel laureates Claudia Goldin and Paul Romer, former Chair of the Obama administration's Council of Economic Advisers Christina Romer, and Ohio State University professor Trevon Logan, who co-authored a paper with Cook. (Golden Finance)