Trump urges judge to block Lisa Cook’s bid to stay at Fed

President Donald Trump has asked a federal judge to block Federal Reserve Governor Lisa Cook from resuming her ￰0￱ move comes as the court weighs whether Trump had the constitutional authority to dismiss her earlier this ￰1￱ case is ￰2￱ ￰3￱ has ever attempted to remove a sitting member of the Federal Reserve’s Board of ￰4￱ outcome could reshape the balance of power between the presidency and the central bank, which was designed to operate independently of political ￰5￱ were heard on Friday by ￰6￱ Judge Jia Cobb in ￰7￱ heard from lawyers for Trump and for Cook during a hearing that stretched to nearly two ￰8￱ requested further filings from both sides by ￰9￱ judge did not immediately rule.

Instead, she said she would make up her mind before the Fed’s next policy meeting, on ￰10￱ meeting is key partly because if she were to be reinstated, Cook would vote on interest rates as one of 12 Federal Open Market Committee members. Trump’s legal team described Cook’s claim as “meritless” and unlikely to succeed, arguing that the president had the authority to fire her “for cause” and that the evidence supporting his action was strong. Cook’s attorneys argued that her due process rights had been ￰11￱ noted that she never had an opportunity to defend herself against the charges and warned that upholding Trump’s action would undermine the Fed’s ￰12￱ uses mortgage allegations to justify firing The firing came after accusations from Bill Pulte , a Trump supporter and head of the Federal Housing Finance Agency, that Cook lied on mortgage ￰13￱ accused her of describing two properties as her “principal residence” in 2021, which entitles someone to better terms on a ￰14￱ week, Pulte added a new allegation, claiming Cook had also labeled a third property as her second ￰15￱ referred all three claims to the Justice Department, though Cook has not been charged with any ￰16￱ pounced on Pulte’s claims in a letter he posted to Truth Social, stating that Cook had been fired “for cause.” In practice, the term is reserved for the most serious cases of malfeasance and has never before been adjudicated by a court as it applies to a Fed ￰17￱ has rejected the ￰18￱ said she has “no wish to be bullied” out of her job, and in the week since the complaints were reported, she has sought to deliver correct details about her financial ￰19￱ tests central bank independence Now the case is shining a light on the independence of the Federal ￰20￱ more than 100 years, presidents have refrained from direct intervention in the makeup of the Fed’s board.

Trump’s decision to fire Cook violates that ￰21￱ Cobb also expressed skepticism at elements of both sides’ ￰22￱ pressed Trump’s lawyers about what the president — and the president alone — can determine as “cause.” She also raised concerns about whether Cook had been adequately notified before her ￰23￱ Cobb ruled against Trump, Cook would surely get her seat back, at least for ￰24￱ she favors the president, Cook would remain removed, and the case could move toward a full trial or possibly the Supreme ￰25￱ ruling is of enormous significance for financial ￰26￱ Fed has held interest rates steady at 4.25–4.5 percent this year despite pressure from Trump to reduce ￰27￱ president has also repeatedly lashed out at Jerome Powell, who chairs the Fed, calling him a “numbskull” for not cutting the cost of ￰28￱ the legal fight continues, Cook is kept out of her ￰29￱ future, and the power balance between the White House and the Federal Reserve, will rest on Judge Cobb’s ruling, expected in the next few ￰30￱ smartest crypto minds already read our ￰31￱ in?

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