Donald Trump continues to cause serious swirls within the American Central Bank, which are now activating the legal conflict. Accused of having falsified documents to obtain a personal mortgage, one of the governors of the Federal Reserve (FED), Lisa Cook, was fired earlier this week by the president through a simple mail. The latter reacted quickly, taking the case in the legal field to dispute his dismissal for the White House.
“His attempt to send her back, based only on a reference letter, lacks a factual or legal basis,” the lawyer continued. “We are going to bring legal actions to dispute this illegal action,” he said.
Decrease in interest rates
In an attempt to take control of the American monetary policy, Donald Trump has multiplied the interventionist blows to the Federal Reserve since his return to the White House last January. The US president, who continues to claim a reduction in Fed’s interest rates, relentlessly attacks its president Jerome Powell, hoping to accelerate his departure from the Central Bank and replace him with a person closer to his ideas.
Beyond Jerome Powell, whose theoretically irremovable mandate extends to the spring of 2026, Donald Trump also seeks to remodel the rest of the Fed Governors Council, to place the most in line with their vision of the economy. Donald has already taken advantage of the resignation of another Fed official, Adriana Kugler, to appoint one of his nearby economic advisors, Stephen Look, before the planned renewal for this position in January 2026.
In a new assault against the Fed, Donald Trump called Lisa Cook’s resignation last Wednesday, one of the governors of the Fed, accused by the Republican field of having falsified bank documents and properties records to obtain two real estate loans. The Republican president quickly accentuated his pressure to Lisa Cook by threatening to say goodbye if he did not give up herself, a threat was finally carried out a few days later.
This Monday, in a letter from the White House published on his social network of the social network, Donald Trump told Lisa Cook that he was “farewell” of his position “with immediate effect”, considering having “enough reasons for [la] refer [son] Post “, while the governor is noted today by any official position. However, if US law establishes that the president can revoke Fed members for” valid reason “, circumstances are not explicitly defined.
“I will not give up”
Lisa Cook, whose mandate officially extends until January 31, 2038, immediately challenged his dismissal, considering the unfounded and illegal action.
Doctor in Economics, Lisa Cook was one of the economic advisors of the White House under Barack Obama. She had been the subject of criticism of the Republican party as soon as former Democratic President Joe Biden proposed her name in 2022 to enter Fed. Although her opponents had questioned her skills, her support deplored prejudices due to her skin color. His appointment had finally obtained a very short majority.
Source: BFM TV
