Trump's Attacks on the Federal Reserve Signal Risk to Economic Stability

Imagine the Federal Reserve is like the country's money manager.

It has important jobs like deciding how much it costs to borrow money, which affects how much things cost.

Usually, the people in charge of the Fed work independently to make the best decisions for the economy.

But the President wants to be able to tell them what to do, especially about making borrowing cheaper.

He wants to fire one of the money managers, Lisa Cook, who says she will fight this.

This is worrying because if the President can easily change the money managers, he might make them do things that are good for him now but bad for the economy later, like causing prices to go up too much.

The people who invest money are watching closely because they don't want the money manager to be controlled by politics.