US central bank
Trump arranges discharge of FED-Gouverneur-she doesn’t want to join
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 Central Bank Governor Lisa Cook rejected President Donald Trump’s cancellation. There is no legal reason for her release and Trump has “no authority”, said Cook on Monday evening (local time). She will not resign and continue to fulfill her duties “to help the American economy”.
Trump had previously ordered Cook’s resignation “with immediate effect”. The US President has limited powers for personnel issues at the Central Bank Fed. According to a recent judgment of the Supreme Court, he can only relieve representatives of the central bank with a good reason. Trump accuses Cook of having made incorrect information related to mortgage loans.
The allegations had initially been collected by the head of the U.S. Housing Liefing (FHFA), Bill Pulte’s Housing Location. Cook had reacted to the fact that she did not intend to “be pushed to resign”. She will ask questions about her financial past.
Donald Trump’s arrangement should end up in court
“The behavior in question shows at least gross negligence in financial transactions, which questions her competence and trustworthiness as a financial supervisor,” said Trump in a letter to Cook. With the Fed it has been crossing for months because the central bank has not yet fulfilled its demand for a key interest rate.
According to the US broadcaster CNN, it is the first time that a US President releases a Fed governor. The question of the legality of the order is likely to end up in court, which would enable Cook to stay on your post in the meantime.
Cook, a former employee of ex-President Barack Obama, has been a member of the FED’s Seven Government Council since May 2022. She was the first black woman on this post and was appointed by Trump’s predecessor Joe Biden.
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.
