Who is Lisa Cook and what is the governor of the Federal Reserve?

President Donald Trump demanded the removal of one of the governors of the US Central Bank, which develops his long hostility from the establishment.

At the end of Monday, he posted a letter addressed to the Cook League on his own social account, saying it was removed from the Federal Reserve Board of Governors from charges of a mortgage fraud.

The move has caused resonance from the Democrats, which said it makes an unprecedented political intervention.

Ms. Cook was appointed governor of the Federal Reserve in 2022 by Democratic President Joy Biden, became the first African American to play a role. Her term was until the end in 2038.

Earlier, she worked at the Barack Obama Economic Advisers Council and worked in the US Treasury.

The Fed Council has seven governors, and they play a key role in creating a monetary US policy.

They make up most committees that decide the US interest rate and seek to maintain prices with stable and unemployment as little as possible.

In recent months, Ms. Cook has voted in favor of maintaining interest rates this year.

In his truth, the president referred to the allegations that Mrs. Cook may have falsified a mortgage report.

He said she signed two documents in two weeks, indicating that two houses in different states were her main residence.

“It is impossible for you not to know about your first commitment when performing the second. It is impossible for you to honor both,” he wrote.

Cnn got and reviewed The mortgage documents in question and found that it requires two main residences, but it is unclear whether it has informed either a lender about this fact.

Ms. Cook is not accused of any violations, and in the statement she stated that she would fight the dismissal because Trump had no reason to fire her.

As a US Central Bank, the federal reserve is responsible for managing the country’s monetary policy, promoting stability in the financial system, regulating institutions and other tasks.

One of the most visible activities he holds is to set interest rates. This has a great impact on the country’s financial conditions, affecting how much money people can borrow.

The Fed acts as a federal agency and is considered an independent government – its decisions do not require the approval of the president, although he is the accountable congress.

This issue may be the subject of an intensive legal battle.

The Law of the Federal Reserve does not give a presidential license to delete the Fed official at request, but as in his letter to Ms. Cook, this will allow it “in the case”.

Trump referred to a “criminal referral” against Cook – after his ally, a housing regulator, recently urged Ms. Cook for mortgage fraud. But it is unclear whether the investigation was open, and Mrs. Cook was not charged with any crime.

Like Ms. Cook’s refusal, there are reasons to remove her, legal experts showed skepticism.

Shang Wu, a former federal prosecutor, said CNN: “Today I believe it raises doubts about the case, but obviously this is what (Trump) is counting on and I would like to expect it to challenge it.”

The Trump’s step -on -step reaction was relatively domesticated – as investors also seem to be skeptical and expected whether the dismissal actually passes.

Trump spent most of his second presidency, putting pressure on the Fed, demanding that Powell reduce interest rates to reduce the cost of borrowing for US business and consumers. Currently, the target range is 4.25 to 4.5%.

Usually central banks reduce rates, trying to increase growth. But there is a balanced act because higher interest rates help maintain inflation in control. Fighting inflation is another priority of Trump.

Low rates can also help us exporters and softening the trade deficit – this is the central plaque of Trump’s economic policy.

Powell still unwaveringly refused to reduce the rates after Trump took office, but hinted in September.