US EditionTrump administration requests emergency ruling to remove Cook from Fed board
The Trump administration argues Lisa Cook's alleged mortgage fraud before joining the Federal Reserve calls her trustworthiness into question, seeking emergency court removal before a key rate decision.
- The Trump administration sought an emergency decision from an appeals court by Monday to oust Lisa Cook from her position on the Federal Reserve’s board ahead of the upcoming interest rate meeting.
- This request followed a Tuesday ruling by Judge Jia Cobb that the administration had not met the legal standard to fire Fed governors except for misconduct occurring while in office.
- Cook, appointed in 2022, faces allegations from Trump’s lawyers about mortgage fraud before her tenure, leading to questions about her trustworthiness and stewardship of the economy.
- The Fed’s upcoming meeting on Tuesday and Wednesday is expected to cut interest rates by a quarter-point to about 4.1%, which typically lowers borrowing costs for mortgages, autos, and business loans.
- If the appeals court rules in Cook’s favor, the administration may seek Supreme Court intervention, while Senate Republicans push to confirm Trump’s nominee Stephen Miran, who could advocate for a steeper rate cut.
69 Articles
69 Articles
Donald Trump had already fired Lisa Cook, but a court collected his release. Now his lawyers are trying to get rid of the banker before new key interest rates are to be decided next week.
Trump administration requests emergency ruling to remove Lisa Cook from Federal Reserve board
WASHINGTON — The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates. The request represents an extraordinary effort by the White House to shape the board before the Fed’s interest rate-setting committee meets next Tuesday and Wednesday. At the same time, Senate Republicans are pushing to confirm Stephen Miran, President…
The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve Board of Governors by Monday, before the upcoming central bank vote on interest rates. President Donald Trump tried to fire Cook on August 25, but a federal judge ruled Tuesday night that the impeachment was illegal and reinstated her on the Fed board. Trump has accused Cook of mortgage fraud because, according to him, she claimed to have two propert…
Donald Trump has been blocked from firing Federal Reserve member Lisa Cook. Now his administration is demanding that she be removed from her position before next week's interest rate decision.
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