Court Blocks Trump's Attempt to Dismiss Fed Governor Lisa Cook
A federal court has allowed Federal Reserve Governor Lisa Cook to retain her position amidst President Trump's attempts to dismiss her. Trump cited mortgage fraud allegations as the reason for her firing, but the court found insufficient grounds for this claim. Cook's continued role is significant due to its implications for Fed independence.
- Country:
- United States
In a notable legal ruling, a federal court has permitted embattled Federal Reserve Governor Lisa Cook to maintain her position as she challenges President Donald Trump's bid to fire her.
US District Judge Jia Cobb issued a preliminary injunction, granting Cook's request and preventing her dismissal while her lawsuit proceeds through the courts. The Trump administration's efforts faced a setback with this decision, as they aim to exercise greater control over the traditionally independent Federal Reserve.
President Trump accused Cook of committing mortgage fraud, claiming she falsely designated two properties as primary residences before joining the Fed. However, Judge Cobb concluded that these allegations likely lacked sufficient legal justification for her removal, underscoring the importance of preserving the Federal Reserve's independence and upholding the rule of law.
(With inputs from agencies.)
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