As the Federal Reserve prepares to announce its latest decision on interest rates, President Donald Trump has taken legal steps to challenge a court ruling involving Federal Reserve Governor Lisa Cook.
On September 9, a federal court issued an order that temporarily blocked President Trump from removing Cook from her position. In response, government lawyers representing the president filed an appeal to ask a higher court to reverse that decision.
The legal argument centers on the president’s authority to remove federal officials “for cause”.
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The case began on August 25, when President Trump attempted to dismiss Cook, based on allegations of misleading and possibly unlawful behavior related to her mortgage paperwork. He claimed Cook had misrepresented her home in the loan documents.
Cook denied those accusations and said her removal was beyond the legal powers of the president and violated her right to due process.
The legal dispute has raised new concerns about the extent of the White House’s influence over the Federal Reserve.
Recently, documents have surfaced that could weaken the claims against Cook. According to a report from NBC, a loan file from May 2021 showed that Cook’s Atlanta property was listed as a vacation home.
This detail supports her statement that she correctly identified it as a second residence, not her main home.
A proposal associated with President Trump, titled the Gaza Reconstitution, Economic Acceleration, and Transformation Trust (GREAT Trust), outlines a plan for Gaza’s future. What does it propose? Read the full story.
