Weekly Report: Trump’s Latest Regime Change Target

What does the Federal Reserve have in common with Venezuela and Greenland? It has been targeted by President Trump for regime change.

The Justice Department recently launched a criminal investigation into whether Federal Reserve Chairman Jerome Powell lied to Congress about the costs of renovating the Federal Reserve’s offices.

Many believe this investigation was launched in order to support President Trump’s effort to replace Powell, who he nominated to be Fed chairman in 2017, with a Fed chairman who will accommodate President Trump’s demands for lower interest rates.

Almost all observers believe that President Trump’s desire to stack the Federal Reserve board with loyalists who will tailor monetary policy to his liking motivated the investigation of Federal Reserve Board Member Lisa Cook. President Trump is using allegations that Cook lied on a mortgage application as a justification to fire her.

At a Supreme Court hearing on Lisa Cook’s case, the majority of justices — including some who have been supportive of President Trump’s attempt to exercise greater authority over federal agencies — seemed to oppose his firing of Cook. One reason for this would be viewing the Fed as different from federal agencies like the Federal Trade Commission because private banks play a role in the Fed’s governance. This indicates the Fed is a public-private hybri