WASHINGTON (AP) – President Donald Trump’s administration on Wednesday called for a ruling that would block the firing of the Federal Reserve government. Lisa Cook Because he has traditionally wanted more control over an independent board.
The notice of appeal came hours after US District Jia Cobb fell Arbitration. The White House alleged that Republican Trump has the right to cook over allegations filed by one of his appointees that he committed mortgage fraud in connection with two properties he purchased before joining the Fed.
Candidate Lisa Cook, who will become a member of the Federal Governor’s Committee, will speak at a confirmation hearing of the Senate Bank, Housing and Urban Affairs Committee in Washington on February 3, 2022. (Ken Cedeno/Pool via AP, file)
The case could arrive at the Supreme Court soon, and the conservative majority has it. Trump allowed fire Several board members from other independent bodies suggest that the Federal Reserve has limited power.
Cook’s lawyers argued that it was illegal to fire her because the president could only be fired for the cause of the governor who was employed. The judge found that the president’s removal power was limited to actions taken during the governor’s tenure.
Cook has been accused of saying both her property in Michigan and Georgia are major residences, which could lead to lower payments and mortgage rates. Her lawsuit denied the allegation without providing details. Her lawyer said she should have had the opportunity to deal with them before being fired.
Federal Reserve Chair Jerome Powell was in discussions with members of the Judiciary Committee, Lisa Cook Committee, during a public Federal Reserve meeting in Washington on June 25, 2025. (AP Photo/Mark Schiefelbein, file)
I have Trump I attacked repeatedly Fed Chairman Jerome Powell did not cut short-term interest rates, so the Fed will manage it more quickly. If Trump can replace the cook, he could win a 4-3 majority on the Fed’s management board.
No president had tried to fire the federal governor before. Likes by economists Independent central bank Because they can do unpopular things like lifting interest rates to combat inflation more easily than elected officials can.
Cook is scheduled to attend the Fed meeting next week. The meeting is expected to reduce the key short-term rate from a quarter to 4.25%.
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