Carl Quintanilla, Jim Cramer and David Faber engaged in a wide-ranging discussion about the White House taking its attacks on the Fed to an unprecedented level. 

President Trump said he fired Fed Governor Lisa Cook amid mortgage fraud allegations, but Cook responded by saying Trump has no authority to remove her and that 

she is not resigning. What might it all mean for Fed independence and the markets? Also in focus: What Commerce Secretary Lutnick told CNBC about the U.S. government 

potentially taking stakes in defense contractors, EchoStar soars on its $23 billion spectrum deal with AT&T, Eli Lilly obesity pill trial results, Nvidia earnings one day away.

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