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Lisa Cook, a member of the Council of Heads of the Federal Reserve of the United States, participates in an open meeting of the Federal Reserve, which discusses the proposed reviews of the additional standards of the Council of the Council of the Federal Reserve Council in Washington, June 25, 2025.
Saul Lob | AFP | Gets the image
President Donald Trump Monday fired Federal Reserve Governor Lisa CookAccording to the letter on Its truth is socialAn unprecedented step and significant escalation of his attacks on the US Central Bank.
“In accordance with my powers, in accordance with Article II Constitution of the United States and the Federal Reserve of 1913, with the amendments, you are withdrawn from your post in the Council of Governors of the Federal Reserve at once,” Trump wrote.
CNBC turned to the Federal Reserve for Comments.
Trump’s move is pushing Federal Reserve The uninformed territory will probably lead to a legitimate collision that may end in the Supreme Court.
Congress stopped the president’s powers unilaterally dismissed Fed Governor in Law of the Federal Reserve 1913The stated that the president can do it only in the case. Although the law does not specify what is a “cause”, it historically understood, which means serious problems about the official’s ability to continue to serve.
Trump administration claims to be a Cook that was nominated by a former president Joe Biden In 2022, she carried out a mortgage fraud, allegedly calling two different properties as the main residence at the same time.
Director of the Federal Housing Financial Agency Bill Papte, an open critic of the chairman of the Fed Jerom PowellOn August 20, they publicly accused Cook of Fraud on the Mortgage and sent a criminal direction to the Ministry of Justice.
In his letter, Trump referred to a criminal referral and said that “there is a sufficient reason you have made false statements at Ore or more mortgage agreements.”
Trump quickly called for the resignation of Cook after the pipe claims by writing in Message in social media What “Cook should leave now !!!”
said Cook In the statement On the same day, when she “does not intend to make fun of my position from some issues raised on Twitter.”
Two days later, Trump said he would fire Cook if she did not resign.
“What she did was bad,” Trump told reporters on August 22.
Trump’s decline is likely to cause legal disassembly. A Supreme can get involved if the judge allows the cook to continue to fulfill its role as long as the legal case is played, New York Times noted.
If Trump will eventually be successful in removing Cook, he will be able to nominate her replacement and remake the Fed Council over the next few years. Fed governors usually perform 14-year terms.
Two of the seven current Fed Governors, Christopher Waller and Michel Bowman, are appointed Trump.
Another place opened earlier this year when Adriano Kugarir Cutting down, giving Trump another place to fill. He is highlighted Stephen MiranChairman of the Council of Economic Advisors to Fill a Free Place.
This step will worsen the problems associated with this Independence of the federal reserve system Under Trump’s administration.
Trump has repeatedly criticized the Central Bank and its chairman for not reducing short -term interest rates.
Powell still opposed Trump’s pressure, even when the president threatened to fire him before the chairman’s validity expires next year.
Speaking on August 22 at the Central Bank’s annual symposium in Jackson Hol, Wyoming, however, Powell suggested that this suggested Conditions “can guarantee” decrease in interest rate if the Fed continues “carefully“
This is a news development. Please check the updates.
