Conflict about Fed posts
US Federal Reserve Governor Cook wants to complain against Trump’s dismissal order
Lisa Cook defends herself against her dismissal ordered by Donald Trump. The president accuses her false information. But her lawyer sees no legal basis.
The Governor of the US Federal Reserve, Lisa Cook, has announced a lawsuit against her dismissal ordered by US President Donald Trump. Trump’s arrangement “lacks any facts or legal basis,” said Cook’s lawyer Abbe Lowell on Tuesday. “We will submit a lawsuit to contest this illegal approach.”
Trump had ordered Cook’s dismissal on Monday “with immediate effect” and justified with alleged false information in connection with private real estate loans. He published a corresponding letter to the central banker on his online platform Truth. Cook immediately rejected the order and announced resistance.
Trump can only release Lisa Cook for legally valid reasons
The US President only 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 sees this because of allegations that his ally Bill Pult, head of the U.S. Authority for Housing Liefing (FHFA), had raised almost two weeks ago.
Among other things, Cook is said to have incorrectly stated that they have two first residence, one in the state of Michigan and one in Georgia. “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 his letter to Cook.
Trump has been crossing the Fed for months because she has not yet fulfilled his demand for a key interest rate. Cook, a former employee of ex-President Barack Obama, has been a member of the central bank’s Seven Government Council since May 2022. She is the first black woman on this post and was appointed by Trump’s predecessor Joe Biden.
AFP
RW
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.
