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On Friday, March 22, 2024, Lisa Cook, the governor of the US Federal Reserve, in Washington, Colombia County, USA.
Al Drago | Bloomberg | Gets the image
Federal Reserve Governor Council Lisa Cook will file a lawsuit that disputes its removal to the presidentT Donald Trumpsaid her lawyer on Tuesday.
“President Trump has no authority to remove Lisa’s Federal Reserve Governor,” Abeb Lowell’s lawyer said in a statement, a day after Trump referred to charges of fraud with the Cook’s mortgage In shooting from her.
“His attempt to fire her, based solely on a letter of referral, lacks the actual or legal basis,” Lowell said.
“We will file a lawsuit by challenging these illegal actions.”
The White House and the Ministry of Justice did not immediately respond to CNBC requests for a comment to Lowel’s statement.
Media Federal Reserve System did not comment on Trump’s actions and did not answer the CNBC question about or Cook works in her office on Tuesday or remotely.
If Cook is sued, the case may be resolved by the Supreme Court.
A Law of the Federal Reserve 1913 He says that the president can only dismiss a member of the federal reserve council only “for a reason”.
This has long been understood as abuse or withdrawal as long as a board member./
Last week, the Ministry of Justice opened a criminal investigation of Cook after she was charged with making false applications for mortgage applications Federal Housing Financing Agency Bill Pulte.
Pulte drew attention to the documents that Cook allegedly signed the property in Michigan and Georgia, saying that they were each of its main habitats, which, he said, was made, “to potentially provide lower interest rates and more favorable loan conditions.”
The documents would be signed before Cook joined the Fed.
Trump referred to these allegations on Monday night in a letter to prepare a notice of her removal.
Cook replied on Monday, saying in a statement: “President Trump, who allegedly fired me” in the case “if the law does not exist, and he has no powers to do so.”
“I don’t resign,” she said. “I will continue to fulfill my duties to help the American economy as I have been doing since 2022.”
– CNBC Kevin Breninger They contributed to this story.
This is conducting the news. Please update updates.
