Fed Governor Lisa Cook A lawsuit has been filed Donald Trump No right to fire her.
The lawsuit, filed by Cook in federal court in Washington on Thursday, laying the foundation for an extraordinary bid for the U.S. president to provide a greater legal battle to control the central bank. Complaints are available immediately.
Trump tried to fire Cook on Monday, announcing that he would evacuate her from the Fed’s board of directors as an unconfirmed allegation by one of his allies was “effective immediately” and she received mortgage on the second home that was incorrectly described as her primary residence.
But Cook stood in her position, arguing that Trump had no “no power” to fire her. “I will continue to perform my duties to help the U.S. economy,” she said, with her lawyer saying she will file a lawsuit.
For months, Trump has publicly urged the Fed to lower interest rates, attacking the central bank and its chairman Jerome Powell – Refuse to do so. Policymakers stressed that before approving the cuts, the impact of government policies, such as tariffs and deportations, needs to be waited and understood.
Cook’s exports will allow Trump to leverage alternatives to help him gain more control over Fed policy. He suggested on Tuesday that he would “have a majority” on the Fed’s seven-member board of directors “soon”, adding: “We have to lower interest rates a little.”
The Trump administration pursues several political enemies of the president, including New York Attorney General Letitia James and California Senator Adam Schiff Excess mortgage fraud claim. Both James and Schiff denied the allegations.
Cook is not a politician, but one of a series of senior Fed policymakers who violated Trump’s ongoing call for downgrade. When she was appointed to not end until 2038, she became the first black woman to sit on the board of directors of the Central Bank.
A respected economist who works at Harvard and Stanford University, and Cook works on the Economic Advisory Board Barack Obama.
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