While past presidents have expressed views about monetary policy, Trump’s attempts at influence are largely unprecedented — no Fed member has ever been removed for cause.

Economic and financial analysts are warning that President Donald Trump’s attempt to fire Federal Reserve governor Lisa Cook risks undermining the central bank’s independence — something that could ultimately put U.S. households’ finances at risk.

Late Monday, Trump moved to fire Cook over allegations of mortgage fraud. He cited a “criminal referral” from Federal Housing Finance Agency Director William Pulte that alleged discrepancies on Cook’s mortgage application documents. Cook has refused to step down, and on Tuesday, she said she was planning to file a lawsuit challenging Trump’s move.

Cook serves on the Federal Reserve’s committee for setting interest rates throughout the economy. To determine where that rate should be, the committee members weigh risks to unemployment and inflation. When the job market starts to look weak, the Fed tends to lower rates. When the risk from inflation is greater, it tends to increase them. Both moves carry risks: Higher rates can stifle economic growth, while lower rates can lead to ballooning inflation.