Sarah Binder

The Federal Reserve Act says that presidents can only remove governors for cause.

Now, I know H.R.

people around the country deal with for cause all the time.

How do you understand that idea of firing for cause?

I mean, regardless of what one's view is on the seriousness of the allegations against Lisa Cook, it is fact that they're not proven yet.

I mean, is it relevant that the court has in previous case allowed President Trump to remove members of various other federal agencies that he does have latitude when we're not talking about the Fed?

I mean if those breadcrumbs have led us astray here and the court were to side with the administration on this, I guess we'd live in a world where the Fed is closer to, I don't know, the National Security Council where those members serve at the pleasure of the president.

I mean that idea will, I don't know, shake our central banking system.

Sarah Bender is at Brookings and George Washington University.

Thank you so much.

Thanks for having me.