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Trump 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.
117 Articles
117 Articles
Trump’s Attempt To Fire Federal Reserve Board Governor Lisa Cook Blocked By Judge
President Donald Trump’s attempt to fire Lisa Cook, the first Black woman to serve as a governor on the Federal Reserve Board, has failed — at least for now. A federal judge has blocked the attempt to remove Cook, agreeing with her lawyers that Trump did not display sufficient cause or legal authority to fire her. With the White House appealing the decision, the ongoing feud between Trump and the Federal Reserve Board continues, as does Trump’s …
Administration seeks to halt judge’s ruling to keep Cook at Fed
Lawyers for President Donald Trump are seeking to block a federal judge’s decision to allow Federal Reserve Governor Lisa Cook to remain on the Fed board while courts consider her lawsuit against Trump. The Department of Justice filed a motion Thursday in a Washington federal court to stop a preliminary injunction ordered by U.S. District Judge Jia Cobb earlier this week. Cobb’s ruling stopped Trump’s attempt to fire Cook over alleged mortgage f…
Trump announced his decision to fire Cook on August 25 because of accusations raised by a person appointed by the president
Trump Administration Presses Appeals Court To Oust Fed Governor Lisa Cook Before Key FOMC Meeting
The Trump administration on Thursday urged the Federal Appeals Court to allow the firing of Federal Reserve Governor Lisa Cook to take effect before the central bank's interest rate-setting meeting next week.
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