800, 3217.10 for 710 WOR. You may have heard of Lisa Cook, who's been in the news.

She's one of the members of the Board of Governors for the Federal Reserve, and she's now

being accused of allegedly lying on several mortgage applications. Now, this is important

because Cook's job is to determine what kind

of mortgage you and I pay when we go to buy a house. So if she allegedly lied on her mortgage

applications and she controls or has some input to control the mortgage rates, you can understand why President

Trump now wants to remove her from the position. Here's what's interesting. There are seven

members of the board of governors. Okay. She is one of the seven. Currently, three of the seven

members were appointed by Trump in the first administration.

The other four were appointed by Democrats, Obama or Biden.

So the four Democrats kind of control the way things go, of course, with the Fed chair, Jerome Powell.

And then there are also the people at the 12

regional banks as well that have input. So it's not that if you control the board of governors,

you have control of everything, but you certainly do have a lot of influence. Bottom line is,

if President Trump gets to replace this woman, then he would have a majority of the board of

governors, four of the seven, who would be

ostensibly loyal to him. They're not required to do what he says, but you would think that

if he appointed them, he's going to vet them and make sure that they're somewhat conservative

and that he would appoint people who would be somewhat like him. Now, the importance of this is these people,

again, help determine things like the Fed rate, which will impact the mortgage rate you pay at the

bank. That could stimulate the economy like nobody's business. It would also potentially lower

interest rates for car loans and for even college loans, your credit cards, everything.

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