USA - The president’s intention to fire Fed governor Lisa Cook could give him sway over the central bank’s rate-setting power. President Trump’s attempt to fire Federal Reserve governor Lisa Cook is the most dramatic step yet in his effort to take control of the independent central bank and its vast authority over interest rates. Trump has for months demanded that the Fed lower rates to boost the economy, make housing more affordable, and lower the cost of servicing the national debt. He has castigated Fed Chair Jerome Powell for not moving sooner to cut them. By replacing Cook, he could add enough voices to the seven-member board of governors to potentially outvote Powell and move interest rates in his preferred direction.