The US Supreme Court will allow Lisa Cook to continue in her position at the Fed
The president accuses her of having lied to bank entities After requesting a series of personal real estate loanssince he presented two homes as main residences.
However, Cook immediately took the case to justice to remain in his position. The White House tried prevent him from participating in the Monetary Policy meeting which was held in mid -September, without success.
The case raises the question of Limits of Presidential Power on an institution that directs the country’s monetary policy and sets interest rates.
The mandates of the governors are deliberately long (14 years) and in the case of Cook theirs is until 2038. The law specifies that Trump can dismiss a governor in case of “valid reason”an expression that jurisprudence generally associates with the demonstration of the existence of serious offenses or embezzlement.
Cook lawyers consider that the question of real estate loans is A “pretext” to release a position at the top of the Fedwhere Donald Trump would like to place an ally.
Triumph for the Fed: US Justice rejected Donald Trump’s request to fire Lisa Cook
Two weeks ago, the Trump administration had suffered A new judicial stumbling in its clip with the Federal Reserve (Fed).
The Federal Court of Appeals of the Columbia district rejected the request of the American president to allow the immediate dismissal of Lisa Cookgovernor of the FED, before the meeting of the Federal Open Market Committee (FOMC) This Wednesday, which will define the US monetary policy.
“Given these unique circumstances and the great probability that Cook will succeed, at least, in its demand for due process, The government amparo application is rightly denied“The Brad Garcia circuit judge founded on the ruling that keeps Cook in his position.
Source: Ambito
