US Edition
Federal 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.
235 Articles
235 Articles
Trump Moves to Fire Fed’s Lisa Cook–Here Are 4 Takeaways
This article was originally published by The Epoch Times: Trump Moves to Fire Fed’s Lisa Cook–Here Are 4 Takeaways President Donald Trump announced in an Aug. 25 letter that he is firing Federal Reserve Board of Governors member Lisa Cook over mortgage fraud allegations. “In light of your deceitful and potentially criminal conduct in a financial matter, [the American people] cannot and I do not have such confidence in your integrity,” wrote Tru…
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.
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- 52% of the sources are Center
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