The Wall Street Journal's conservative editorial board warned the president and his allies that they will own the results of their latest moves.
On Monday, President Donald Trump announced on Truth Social that he was firing Lisa Cook from her job as Federal Reserve governor. Trump said Tuesday that the allegations of mortgage fraud that his administration's housing regulator has raised against Cook "seemed" like enough to warrant Cook's removal.
Cook was appointed by President Joe Biden in 2022 and was confirmed by a 50-50 vote in the Senate.
The editors described Trump's move to fire Cook as a "power play" and a "calculated putsch" in an op-ed published on Tuesday.
"Has he considered what a politically malleable Fed might do when the progressive left takes charge under another President?" the editorial asks. "Of course he hasn’t."
"Mr. Trump is all about short-term tactics and personal political advantage," it adds. "Institutional integrity bores him. But if he succeeds in taking over the Fed, he and Republicans will own the results and whatever inflation returns."
The editors also speculated about the veracity of the claims Trump levied against Cook.
"Intentionally misrepresenting information on a mortgage application is wrong and a federal crime," the editorial argued. "But we haven’t seen the details or Ms. Cook’s explanation. There’s also a question of selective prosecution, since Mr. Pulte’s crackdown on mortgage fraud seems to be aimed only at Mr. Trump’s opponents."
"Ms. Cook deserves more due process than a presidential declaration of guilt on Truth Social," it added.