Donald Trump announced yesterday with the “immediate” power of Lissa Cook, a member of the Board of Directors of the US Federal Bank, who is accused of misrepresenting documents in order to receive a mortgage loan, exacerbating the pressure on the Fed, an independent institution. In a letter, which was also posted on Truth Social, Trump states that Cook “was dismissed from the Board of Directors with immediate effect”. “I found that there are sufficient reasons to get you out of your position,” he said. As no US president has so far dismissed a member of the Fed Board of Directors, it is clear what will follow. The Fed is considered to have a privileged regime, far from political interventions, due to the provisions of the Federal Bank law, which prevent the US president from dismissing a member of the Board of Directors for disagreeing with monetary policy. However, this law allows a member to be removed if there is a “legal reason”. What […]
Source: News Beast
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
