A federal judge will examine on Friday the possibility of temporarily avoiding Donald Trump dismissed the governor of the American Federal Reserve (Fed) Lisa Cook while pursuing legal actions, saying that the US President is not valid right to fire her of her functions. The hearing, scheduled for the 2 PM GMT before the American district judge Jia Cobb in Washington, DC, is the first stage of a legal battle announced that could finally be resolved by the United States Supreme Court.
Lisa Cook announced Thursday to continue with Donald Trump and the Fed on the argument that the mortgage frauds that he would have committed before entry to the position would not give the US president legal authority to fire her. According to her, Donald Trump is looking for a pretext to fire her because she refuses to reduce interest rates. This dismissal revives concerns about the independence of the Fed compared to the White House and weighed the dollar. The law that created the Fed stipulates that the governors of the institution can only be revoked “for a valid reason”, without, however, specify this notion.
Lisa Cook denies having committed mortgage fraud
While no president has never dismissed one of the governors of the Fed, Lisa Cook’s emergency application destined to block her revocation, examined by Jia Cobb, can work if the judge considers that legal actions are successful, that Lisa Cook runs the risk of irreparable damage if revoked and that such decision is of public interest. In the documents deposited in the Court, Lisa Cook denied having committed mortgage fraud, while stating that even if she had done so, this would not constitute a reason for the revocation because the alleged crime occurred before the US Senate confirmed it and that she did not assume her functions in 2022.
Donald Trump says that a year earlier, Lisa Cook declared separate properties in Michigan and Georgia as main residences on requests for mortgage loans, which could have allowed him to obtain lower interest rates. Trump administration lawyers will probably support Friday’s hearing that the alleged mortgage fraud is a sufficient reason to revoke a Fed governor, regardless of the date it occurred.
Source: BFM TV
