Trump administration proceeds with efforts to fire Federal Reserve governor Lisa Cook
Summary
The Trump administration is continuing efforts to remove Federal Reserve governor Lisa Cook, despite a Supreme Court ruling allowing her to keep her job while she fights the attempt. The administration is appealing a lower court decision that favored Cook, who denies allegations of mortgage fraud.Key Facts
- Lisa Cook is a Federal Reserve governor nominated by President Joe Biden.
- The Trump administration wants to fire Cook over mortgage fraud allegations she denies.
- The Supreme Court ruled 5-4 that Cook can remain in her position while her lawsuit against the firing continues.
- Chief Justice John Roberts noted President Trump can try again to fire Cook if she is properly notified and can respond.
- The Trump administration is appealing a court decision that prevented her firing.
- President Trump promised to take "appropriate action immediately" following the Supreme Court ruling.
- Cook's lawyer described the Supreme Court decision as proof that the Federal Reserve is a unique agency.
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