US Federal Bank Governor Lisa Cook will file a lawsuit in questioning its deportation by President Donald Trump, marking a significant escalation in the battle of the president with the US Central Bank. “President Trump does not have the power to remove the federal bank governor, Lisa Cook,” her lawyer Abe David Lowell said in a statement. The president said there were “sufficient reasons” to believe that Cook had made false statements about her mortgage and cited constitutional powers that, he said, allowed him to remove it. This unprecedented move comes at a time when Trump exerts increasing pressure on the US Federal Bank – and in particular to its president, Jerom Powell – for her view to reduce interest rates. Long -term US government bonds were massively sold on Tuesday, suggesting increased risk by investors who are worried that Trump’s attempt to dismiss […]
Source: News Beast
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