Federal Bank Governor Lisa Cook has appealed to the courts, arguing that US President Donald Trump does not have the jurisdiction to remove her from her office, starting a judicial procedure that could lead to the redefinition of rules. In her lawsuit, Cook says Trump violated federal legislation that allows the president to remove a member of the Fed Board of Directors only if there is a “reason”. The Republican president says Cook committed a loan fraud in 2021, a year before he was appointed to the Fed. The case will most likely be brought to the Supreme Court where the conservative majority has allowed, albeit reluctantly, to Trump to dismiss officials from other services, but recently implied that the Fed may be a rare exception to a non -direct service. A Fed spokesman said earlier before the lawsuit was filed, […]
Source: News Beast
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