Donald TrumpThe struggle for control Fed Facing a critical legal test today, a central bank governor seeking temporary obstacles, his extraordinary attempt to fire her.
Lisa Cook Prosecuting the U.S. President Thursdayher lawyer described his attempt as “unprecedented and illegal” and charged on “excuses”.
The case is generally expected to eventually Supreme Court. Cook is moving through the court, but is seeking temporary restraining orders to oppose Trump’s attemptsImmediately” fired her from the Fed’s board of directors.
A hearing on the motion is scheduled for Friday in Washington at 10 a.m. The case has been assigned to U.S. District Judge Jia Cobb, Joe Biden.
Trump wrote to Cook on Monday, telling her he evacuated her from her post “effective immediately” based on allegations from one of his ally, who said she received a mortgage on the second home, which she mistakenly described as a primary residence.
The president took months Attack the Fedso far, most policy makers (including Cook) have no call to lower interest rates. He talked about the rapid establishment of a “majority” on the central bank’s board of directors and questioned its long-standing future of political oversight.
The term of dismissal of Cook does not expire until 2038, which will allow Trump to nominate a substitute. But she believes the president has no “no power” to remove her.
“Before the Senate confirmation, Governor Cook’s unconfirmed allegations regarding a private mortgage application were not [cause]her lawyer argued in the complaint. “President Trump’s claim to letter to Fire Governor Cook did not quote appropriate reasons to evacuate her from the board.”
The White House claimed Thursday that Cook was “reliably accused of lying” by the administration. But the charges have not been confirmed, and her lawyers say Trump and his officials have not made it clear that any errors in her mortgage documents were intentional.
It’s the Federal Reserve Gears are reduced at recovery rate Next month, despite not reaching scale or Trump’s speed, its chairman and his chairman, Jerome Powellwarned that the president’s tariffs and immigration crackdowns have undermined the global economy and defeated the U.S. labor force.
Health & Wellness Contributor
A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
