US Federal Reserve Governor Lisa Cook spoke on Thursday, October 6, 2022 at the Peterson Institute of International Economics in Washington, DC.
Ting Shen | Bloomberg | Getty Images
Cook’s lawyer Abbe Lowell, in “The History of the Board”, challenged President Trump’s unprecedented illegal attempt to remove Governor Cook from her position, which would be the first in board history if allowed to happen. ” litigation.
“This will overturn the Fed Act … explicitly demanding the ‘reason’ of dismissal to the governor, an unconfirmed allegation of Governor Cook’s private mortgage application filed before the Senate confirmation,” Lowell wrote.
Cook asked the court to declare Trump’s shooting order “illegal and invalid” and confirm that she remains a board member.
She also hopes the court ruled that claims about his mortgage did not constitute a “cause”, which the lawsuit defined as “inefficiency, neglect of duty, office or comparable misconduct.”
The lawsuit states that Powell and the Fed were only prosecuted to “implement President Trump’s termination known as Governor Cook.”
CNBC asked the White House to comment on the lawsuit. The Fed declined to comment.
Trump complained about her months later, and Powell and other board members did not lower interest rates as he wanted.
The allegations against Cook first came from Bill Pulte, director of federal housing finance, and an active supporter of Trump’s criticism of Powell.
Pulte referred the criminal referral to the Department of Justice, which said it would investigate the mortgage claim against Cook. Pulte, the Justice Department and the White House have all asked Cook to leave her position quickly based on the allegations.
Within hours of Trump’s termination of the letter, she made an open letter about the truth, and Cook vowed to “continue to perform my duty to help the U.S. economy, as I have done since 2022.”
The key question in her lawsuit is whether the judge and ultimately whether the Supreme Court agrees that Trump has a so-called career to fire her.
this Federal Reserve Law It is said that the president can only be removed from office “for reasons”.
Cook has not been charged with any crime, including mortgage fraud.
If Trump successfully removes his post, it will give him hope to appoint The majority of the seven members of the federal government.
“We will get a majority soon,” Trump said at the White House during a cabinet meeting on Tuesday. “It will be great.”
This is breaking news. Please check the update.
– CNBC’s and manganese Contributed to this report.





