In this episode, Christine Chabot of Marquette University Law School and Michael McConnell of Stanford Law School join to discuss Federal Reserve Governor Lisa Cook’s termination and the broader legal and constitutional issues it raises, such as the constitutionality of the Federal Reserve and the scope of the president’s removal power.
Resources
Trump v. Wilcox (2025)
Collins v. Yellin (2021)
Seila Law LLC v. Consumer Financial Protection Bureau (2020)
Humphrey’s Executor v. United States (1935)
Christine Chabot, “Is the Federal Reserve Constitutional? An Originalist Argument for Independent Agencies,” Notre Dame Law Review (2020)
Michael McConnell, “Opinion: Save the Federal Reserve’s independence by splitting the agency,” Washington Post (September 3, 2025)
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