US EditionFederal Reserve Governor Lisa Cook says Trump 'has no authority' to fire her
- On Monday, President Donald Trump declared via a post on his Truth Social account that he has terminated Federal Reserve Governor Lisa Cook’s appointment effective immediately.
- Trump cited allegations of mortgage fraud based on a criminal referral by Trump appointee William Pulte, but legal experts say no formal proceeding has occurred and cause under the law is unclear.
- Cook, appointed to the Federal Reserve Board in 2022 as its first Black female governor, denied any misconduct, asserted that President Trump does not have the legal authority to remove her, and enlisted attorney Abbe Lowell to challenge the attempted dismissal.
- Critics including Senator Elizabeth Warren and Rep. Hakeem Jeffries called the firing illegal and an authoritarian power grab risking the Fed's political independence, while legal scholars foresee a likely Supreme Court battle.
- If Trump succeeds in replacing Cook, he could install an ally favoring lower interest rates, marking a historic escalation in attempts to politicize the 111-year-old Federal Reserve and potentially destabilize financial markets.
234 Articles
234 Articles
InsideNoVA.com
Ex-Fed chief says Trump bid to oust US governor Cook 'dangerous'
US President Donald Trump's move to oust Federal Reserve Governor Lisa Cook marks a direct attempt to politicize the central bank and is "profoundly dangerous," former Fed chief Janet Yellen warned Wednesday.
Trump’s push to oust Fed’s Lisa Cook unites anti-DEI effort, bid to control independent institutions - The Boston Globe
President Trump’s vow to fire Cook marks another potential high-profile ouster of a Black leader from the federal government amid Trump’s broader crusade against diversity and inclusion policies.
Trump Goes Full Godfather
On Monday evening, President Donald Trump attempted to fire a Federal Reserve governor, Lisa Cook. A Trump official has claimed that she had committed mortgage fraud before she joined the powerful body that sets national interest rates.The real story seems to be that she dares to disagree with the president. As a member of the Fed’s Open Market Committee, Cook has consistently voted with Chairman Jerome Powell to maintain current interest rates,…
Coverage Details
Bias Distribution
- 52% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
