US EditionLisa Cook will sue over Trump firing from Fed board, her lawyer says
Lisa Cook, appointed in 2022 and the first Black woman on the Fed board, plans to sue President Trump over his unprecedented firing attempt citing contested mortgage fraud claims.
- Federal Reserve Governor Lisa Cook is facing an unprecedented removal attempt by President Donald Trump, who accuses her of mortgage fraud in a move that challenges the Fed's independence in its 111-year history.
- The Federal Reserve Act allows removal of governors only 'for cause,' and legal experts say this dispute over presidential authority will likely end up in court.
- Cook faces no criminal charges and, represented by her attorney Abbe Lowell, intends to file a lawsuit contesting her dismissal in order to affirm her right to continue serving.
- The Federal Reserve and lawmakers including Maxine Waters and Charles Schumer have criticized the firing bid as undermining the Fed's independence and risking economic stability.
- If upheld, Cook’s removal could shift control over monetary policy and lead to contentious Senate confirmation for Trump’s nominee, Stephen Miran.
345 Articles
345 Articles
Associated Press News
Trump's push to oust Fed's Lisa Cook unites anti-DEI effort, bid to control independent institutions
Donald Trump’s vow to fire Federal Reserve Board Governor Lisa Cook is at the intersection of the Republican president’s efforts to consolidate power and purge diverse voices from the higher ranks of American leadership.
Trump moves to fire Fed governor
Federal Reserve Governor Lisa Cook will file a lawsuit to prevent President Donald Trump from firing her, a lawyer for the embattled central bank official said on Tuesday, kicking off what could be a protracted legal fight over the White House's effort to shape US monetary policy. "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," Cook's law…
Trump move to oust Fed governor shakes US market credibility
The fate of Lisa Cook, who is fighting attempts by President Donald Trump to remove her from the Federal Reserve’s Board of Governors, has huge implications for a keystone of good economic policy: central bank independence. At the heart of her firing attempt – and other moves to undermine the Fed by the Trump administration […] The post Trump move to oust Fed governor shakes US market credibility appeared first on Asia Times.
Trump's attempt to control Fed board threatens independence
President Trump made it clear he is seeking more control of the Federal Reserve. He said he fired Fed Governor Lisa Cook from the bank's board, but she says she's not leaving and will take the administration to court. At stake is the balance of power on the nation's top bank, which could undermine its long-held independence. Amna Nawaz discussed more with Lael Brainard and David Wessel.
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