Trump's Unprecedented Move: The Controversial Firing of Fed Governor Lisa Cook
President Trump has sought to dismiss Federal Reserve Governor Lisa Cook, citing a criminal investigation into her properties. This unprecedented act raises legal challenges over the 'for cause' removal clause in the Federal Reserve Act. Cook insists on her innocence and vows to continue her duties.
In an unprecedented move, U.S. President Donald Trump has ordered the removal of Governor Lisa Cook from the Federal Reserve Board of Governors. Trump claims the criminal investigation into her properties warrants dismissal.
However, Cook denies wrongdoing and plans to fight back, arguing that the President lacks legal authority to fire her under the Federal Reserve Act.
This controversial firing raises questions about political interference and could set a new legal precedent as it potentially heads to the Supreme Court.
(With inputs from agencies.)
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