Summary
The Federal Reserve stated that it will follow any court ruling concerning Lisa Cook's removal after President Trump fired her. Cook plans to sue, challenging her dismissal and testing the limits of presidential power over the Federal Reserve. The Fed emphasizes that it will await the court's decision on the matter.
Key Facts
- The Federal Reserve will follow court decisions about Lisa Cook's status.
- Lisa Cook intends to sue following her dismissal by President Trump.
- The legal case will explore presidential power limits over the Fed.
- The Fed did not comment on Cook's current role while the case proceeds.
- Trump claims Cook was fired for alleged mortgage fraud, which is not proven.
- Trump aims to secure a majority on the Fed board and affect interest rates.
- The Fed highlighted the importance of board member removal protections.
