Lisa Cook to Challenge President Trump’s Fed Board Firing in Court, Lawyer Says – CNBC TV18

The White House and Justice Department did not immediatily respond to CNBC’s requests for comment. The Fed’s Media Office has also not addressed trump’s action or confirmed whether cook continued work from her office on tuesday.

Cook, appointed to the fed board in 2022, said monday: “President Trump Purported to Fire Me ‘For Cause’ When no cause exists the law, and he has no authority to do so do. Continue to Carry out my duties to help the American economy. “

Trump’s Removal Letter Followed A Justice Department PROBE INTO Allegations that Cook Made False Statements on MortGage Applications Years Years Before joining the fed. The accusations, raised by federal housing Finance Agency Official Bill Pulte, Claim She Listed Multiple Properties in Michigan and Georgia as Her “Primary Residence” to Obtain Favourable Loan Terrable Loan Terrms.

The Federal Reserve Act of 1913 Allows a President to Remove A Board Member only “For Cause,” Traditionally interpreted as malfeasance or dereliction of Duty. Legal Experts say the dispute group is Ultimately Reach the Supreme Court.

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