President Donald Trump's attempt to fire Lisa Cook, a member of the Federal Reserve’s interest rate-setting board, is not the first time in the Fed’s history that there has been an attempt to politicise central banking. But Peter Conti-Brown, associate professor of financial regulation at The Wharton School of the University of Pennsylvania, tells the FT’s Chris Giles why Trump’s intervention is different and why there are now reasons to fear for the survival of a key pillar of US and global economic stability. 

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Presented by Chris Giles. Produced by Josh Gabert-Doyon and Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner and Samantha Giovinco.

Read a transcript of this episode on FT.com

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