Trump Moving Forward with Attempt to Fire Fed's Lisa Cook After Supreme Court Ruling
The White House says Cook must answer mortgage-fraud claims within three weeks as Trump renews his effort to remove the Federal Reserve governor.
- President Donald Trump renewed his attempt to remove Federal Reserve Governor Lisa Cook on Friday, reviving an effort the Supreme Court blocked in June to preserve the central bank's independence.
- White House Deputy Chief of Staff Dan Scavino sent a letter dated August 5 to Cook, stating the President is "considering" her removal due to unproven mortgage fraud allegations raised by Bill Pulte, director of the Federal Housing Finance Agency.
- The Supreme Court's 5-4 ruling in June blocked the initial firing, finding Trump failed to provide procedural protections; the White House now demands Cook respond within 21 days to satisfy the court's mandate.
- Cook, the first Black woman to serve as a Federal Reserve governor, denied wrongdoing and maintained the allegations are "a manufactured pretext" for monetary policy differences, noting she has not been charged with any crime.
- Chief Justice John Roberts warned in the June opinion that allowing the President to fire Cook "would in effect transform the Federal Reserve's for-cause protection into at-will employment," undermining the Nation's central banking independence from political pressure.
169 Articles
169 Articles
Trump Once Again Trying To Fire Lisa Cook From Federal Reserve Board
Source: Al Drago / Getty Despite the Supreme Court shutting him down earlier this year, President Donald Trump is once again threatening to fire Lisa Cook from the Federal Reserve Board of Governors. ABC News reports that the White House sent Cook a letter last week informing her that Trump is considering firing her. The letter ordered Cook to respond within three weeks to their flimsy allegations of fraud. The allegation of fraud comes from Coo…
Trump Celebrates One Black Woman's Historic Rise While Renewing Push to Oust Another
While the Senate recently confirmed Dr. Erica Schwartz as the first Black woman to lead the CDC, the Trump administration has launched a renewed attempt to remove Federal Reserve Governor Lisa Cook from her post. The post Trump Celebrates One Black Woman’s Historic Rise While Renewing Push to Oust Another appeared first on The Washington Informer.
Trump Still Trying To Fire Federal Reserve Board’s Lisa Cook Despite Supreme Court Order
Despite being protected by a recent Supreme Court ruling protecting her position, the only Black woman on the Federal Reserve Board is still being targeted for removal by Trump. The president continues to pursue questionable fraud accusations, as he has done against a variety of other political opponents and scapegoats. Trump informs Lisa Cook he hasn’t dropped efforts to fire her The Associated Press reported Friday that Federal Reserve Board o…
Can Trump’s Fed Battle Threaten Bond Markets?
Political Pressure Puts Fed Independence Back in Focus Federal Reserve Chair Kevin Warsh’s efforts to keep the central bank insulated from political pressure have become more difficult after President Donald Trump renewed his push to remove Fed Governor Lisa Cook. Trump’s move, based on allegations of mortgage fraud that Cook’s attorney has called baseless, has […] The post Can Trump’s Fed Battle Threaten Bond Markets? appeared first on Modern D…
Trump puts pressure on the Fed again, trying to influence policy on ratingsUS President Donald Trump has renewed pressure on the Fed by demanding a cut in interest rates and trying to remove a member of the Board of Governors Lisa Cook. He also telephones the new Fed chairman, Kevin Vorsch, sparking a debate about the independence of the central bank.
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