Lisa Cook
Discharge of central bank director: Trump suffers a court slop
US President Trump wants to remove a director of the central bank Fed. A judge has now prevented that – at least for the time being. The power struggle goes into the next round.
The Republican suffered a setback in the dispute over the dismissal of the US President Donald Trump’s dismissal by US President Donald Trump. A US federal judge temporarily put a stop from Trump’s dismissal of Lisa Cook due to alleged mortgage fraud. She thus made an injunction that Cook had sued before the Federal District Court of the US state of Columbia.
Trump had announced in August to relieve Cook with immediate effect from her office. In a letter to the economist, he justified the step with the fact that there were sufficient reasons for the assumption that she had given incorrect information in one or more mortgage contracts. Cook then announced legal steps through her lawyers. She argued that the president should not be recalled. She denied the allegations.
Cook further said that if she should have unknowingly made false information, this was done years before taking office when a private mortgage was taken.
Trump leads power struggle with the central bank around interest rate cuts
In the justification of judge Jia Cobb, it is now said that the President should only relieve a member of the Fed Gouveerneurrat “for valid reasons”. So someone could not be released solely due to behaviors that took place before taking office. She also wrote that the public interest in the independence of the Fed spoke for Cooks reinstatement.
With the decision, the power struggle between Trump and the US Federal Reserve Fed goes into the next round. Trump has been pounding interest cuts for months, but does not get it from the central bank. Therefore, he has repeatedly requested the resignation of the current FED leader Jerome Powell and then also targeted Cook. The case is expected to end up in front of the Supreme Court.
The FED is of great importance worldwide. The Central Bank of the United States is aimed at contributing to the US financial stability.
In 2023 Cook was nominated for the post by the then US President Joe Biden and confirmed by the Senate. Judge Cobb was also appointed by Biden.
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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.
