Former U.S. Economic Officials Unite Against Trump's Attempt to Fire Fed Governor
Eighteen former top U.S. economic officials, including Janet Yellen and Ben Bernanke, urged the Supreme Court to reject Trump's bid to fire Fed Governor Lisa Cook. The group argued that her removal would jeopardize the Federal Reserve's independence and public confidence, as Cook legally challenges her dismissal.
A bipartisan group of 18 former top U.S. economic officials has asked the Supreme Court to deny President Trump's request to fire Federal Reserve Governor Lisa Cook. The officials include notable figures such as former Fed chairs Janet Yellen and Ben Bernanke.
In their brief, they argued that firing Cook would undermine the independence of the U.S. central bank and erode public trust. Despite a district and appellate court ruling against Trump, his administration continues to seek her dismissal, citing unproven mortgage fraud allegations.
The group emphasized that prematurely removing Cook could damage the Fed's reputation, potentially leading to negative economic consequences like higher inflation. Such actions could politicize the Fed and hinder its role in monetary policymaking.
(With inputs from agencies.)
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