Fed governor Lisa Cook slams Trump’s renewed threat to fire her
Summary
Federal Reserve Governor Lisa Cook said the Trump administration has no legal reason to remove her from the Fed’s board after renewed threats from President Trump. Trump had previously tried to fire her over mortgage fraud allegations, which have not been proven in court, and the Supreme Court allowed her to keep her job while the case continues.Key Facts
- Lisa Cook is a member of the Federal Reserve Board of Governors.
- President Trump threatened to fire her again over unproven mortgage fraud claims.
- The Supreme Court ruled she can stay on the Fed board during ongoing legal proceedings.
- Trump can try to remove her again only if he gives proper notice and a chance to respond.
- Trump and some of his cabinet members have been accused of making similar mortgage errors.
- Cook denies any intent to deceive lenders and says errors were accidental.
- If Trump removes Cook, he could replace her, gaining more supporters on the Fed board.
- Trump has criticized the Fed for not lowering interest rates fast enough.
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