US EditionLisa Cook will sue over Trump firing from Fed board, her lawyer says
Lisa Cook challenges President Trump's firing attempt, citing lack of legal basis; experts note no president has ever removed a Federal Reserve governor in the 111-year history.
- On Monday, President Donald Trump posted a letter on Truth Social ordering Federal Reserve Governor Lisa Cook's immediate removal, citing the Federal Reserve Act's 'for cause' clause.
- Trump cited alleged mortgage fraud from 2021, highlighting two properties Federal Reserve Governor Lisa Cook bought in Georgia and Michigan, listed as primary residences in mortgage documents.
- Futures for major U.S. indexes and overseas stocks fell sharply—Germany's DAX dropped to 24,148.16 and France's CAC 40 to 7,716.55—though some markets steadied after Cook refused to resign and hired a lawyer.
- Cook's lawyer Abbe Lowell said they will sue to block the firing, arguing Trump lacks authority, while Democratic governors and the Congressional Black Caucus condemned the attempt.
- In the Fed's 111-year history, no president has tried such a removal, experts say the phrase 'for cause' remains contested and economists prefer independent central banks to maintain stability.
55 Articles
55 Articles
Fed Governor Plans to Sue Trump to Keep Her Post
Federal Reserve governor Lisa Cook plans to fight back against President Trump by borrowing one of his favorite tactics: a lawsuit. Trump's attempt to fire Cook, which he announced on Monday , "lacks any factual or legal basis," said her attorney, Abbe Lowell, reports CNN . "We will be filing a lawsuit...
President Trump Says He’s Firing Fed Governor Lisa Cook. She’s Taking Him to Court.
Federal Reserve Governor Lisa Cook plans to fight back in court against her unprecedented removal by President Donald Trump, her legal team said on Tuesday. “President Trump has no authority to remove Federal Reserve Governor Lisa Cook. His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action,” Abbe Lowell of Lowell & Associates said in a statement t…
Lisa Cook, the governor of the Federal Reserve, is preparing a lawsuit to challenge Donald Trump's order to fire her, with her lawyers emphasizing that the president has no authority to fire the governor.
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