Trump asks the Supreme Court to allow him to fire Fed member Lisa Cook
The Trump administration asked the Supreme Court to allow the president to immediately fire Federal Reserve board member Lisa Cook.
WASHINGTON — The Trump administration asked the Supreme Court on Thursday to allow the president to immediately fire Federal Reserve board member Lisa Cook.
In a court filing, Solicitor General D. John Sauer said a judge's ruling that blocked the firing constituted "improper judicial interference."
President Donald Trump has made clear his intention to reshape the Federal Reserve despite its traditional independent status.
Fed cuts interest rates, citing 'risks' to jobs market01:44Trump has invoked a provision that allows Federal Reserve board members to be removed "for cause," citing allegations of mortgage fraud against Cook brought by one of Trump's political appointees, Federal Housing Finance Agency Director Bill Pulte. Cook has not been charged with any crime and has denied the allegations.
Under the Federal Reserve Act, the only way Fed governors can be removed is “for cause,” or some type of wrongdoing.
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