Wants to install partisans
US President Trump dismisses the central bank’s board member
To achieve a lower key interest rate, Donald Trump exerts pressure on the US Federal Reserve. Now the US President has ordered the Fed Gouventer Cook to be dismissed.
US President Donald Trump ordered the discharge of the FED governor Lisa Cook for alleged mortgage fraud “with immediate effect”. “I came to the conclusion that there are sufficient reasons to relieve them of their office,” Trump wrote in a letter to the Governor of the US Federal Reserve on Monday (local time).
The US President had recently strengthened the pressure on the central bank of the Federal Reserve (FED) and called Cook for resignation.
“Cook has to step back, now !!!” Trump wrote on Wednesday in his online service Truth Social. He shared a report by the Bloomberg news agency, according to which a Trump ally of the economist assumed dubious real estate loans.
Cook has been a member of the Fed’s Seven -member Governor Council since May 2022. It was the first black man on this post and was appointed by Trump’s predecessor Joe Biden.
Trump calls for a reduction in the key interest rate
The president is only limited to dismiss the central bank officials. According to a recent judgment of the Supreme Court, there must be serious misconduct.
Trump referred to the head of the US Authority for Housing Liefing (FHFA), Bill Pulte. According to Bloomberg, this had requested real estate loans from the US Justice Ministry.
The US President is trying to install partial owners in the Fed in order to bring about the key interest rate he demanded. Trump justifies his demand with cheaper real estate loans for US citizens. A lower key interest rate would at the same time lower the interest burden on the exuberant US state debt.
AFP
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
