US EditionTrump's Attempt to Fire Fed Governor Lisa Cook Is Likely to Lead to a Major Legal Battle
Trump's unprecedented firing of Fed Governor Lisa Cook over alleged mortgage fraud has led to legal challenges and sparked concerns about central bank independence.
- On Monday evening, President Donald Trump dismissed Federal Reserve Governor Lisa Cook immediately, referencing claims of mortgage fraud.
- The termination came after Trump persistently pressured for swift reductions in interest rates and led to legal challenges disputing his power to dismiss her.
- Cook, appointed in 2022 as the first Black woman on the Fed board, denied wrongdoing and rejected the legality of her dismissal amid market turmoil.
- Ed Al-Hussainy described the White House's efforts to pressure Powell and Cook as aimed at gradually eroding the Federal Reserve’s statutory independence, raising concerns about increased political influence over the central bank.
- Cook’s dismissal gives Trump the opportunity to appoint a successor who supports his economic priorities, prompting worries about heightened political interference in monetary policy decisions.
64 Articles
64 Articles
Trump risks economic calamity by tampering with Fed independence
Economic and financial analysts are warning that President Donald Trump’s attempt to fire Federal Reserve governor Lisa Cook risks undermining the central bank’s independence — something that could ultimately put U.S. households’ finances at risk
In his first appearance after Donald Trump won the elections, just two days later, Federal Reserve President Jerome Powell was blunt: he would not resign. “It is not permitted by law” to dismiss the members of the central bank council, he pointed to some questions from the insistent and, also, premonitionary journalists. Nine months later, a Donald Trump already installed in the White House has passed from threats to the facts, ceasing by letter…
Trump's attempt to fire Fed governor Lisa Cook is likely to lead to a major legal battle (World)
President Donald Trump's attempt to fire one of the seven governors of the Federal Reserve will likely end up in court and could more clearly define the limits of the president's legal powers over the traditionally independent institution. Legal experts say the Republican president's claim that he c...
Associated Press News
Trump's attempt to fire Fed governor Lisa Cook is likely to lead to a major legal battle
President Donald Trump’s attempt to fire one of the seven Federal Reserve governors will likely end up in court and could more clearly define the limits of the president’s legal powers over the traditionally independent institution.
While the U.S. President dismisses Governor Lisa Cook, the markets remain stable. ...
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