US EditionFederal Reserve Governor Lisa Cook says Trump 'has no authority' to fire her
President Trump alleges mortgage fraud by Lisa Cook, the first Black woman on the Fed Board, challenging Fed independence and sparking political and legal disputes.
- 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.
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111 Articles
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Trump moves to fire Fed governor, escalating effort to control central bank
WASHINGTON: US President Donald Trump’s attempt to fire Federal Reserve Governor Lisa Cook on Tuesday (Aug 26) marked a dramatic escalation in his effort to exert control over the central bank, in a move that analysts warn could erode the institution’s independence. For months, Trump has demanded that
DECRYPTAGE - The only black woman on the Board of Governors of the Federal Reserve, accused of mortgage credit fraud by a senior official close to the President, believes that she cannot be disbanded. Through her, it is indeed the boss of the central bank, Jerome Powell, who is targeted.
The president accused the official of lying at the time of obtaining mortgage loans to buy houses
'Irony is dead': Trump official buried for attack on Fed member
Echoing his boss, Commerce Secretary Howard Lutnick lashed out at Federal Reserve Governor Lisa Cook, who President Donald Trump is trying to fire for allegedly committing mortgage fraud.During his appearance Tuesday morning on CNBC, the brash Lutnick declared without evidence, “We can't have mortga...
Trump's Controversial Attempt to Expel Lisa Cook from Federal Reserve Board - Real News Now
In recent news, President Donald Trump made headlines with his decision to attempt the expulsion of Lisa Cook from her position as the first Black female member of the Federal Reserve board of governors. This move comes following days of rising tension and speculation. Trump’s justification hinges on what he refers to as ‘sufficient cause.’ He alludes to unsanctioned accusations of Cook’s involvement in mortgage fraud. Representing Cook, a spoke…
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