Trump Pushes for Dismissal of Federal Reserve Chair Lisa Cook
The United States Supreme Court is currently considering a motion filed by President Donald Trump to enforce the dismissal of Lisa Cook, a member of the Federal Reserve's seven-member governing board.
Trump, who has been vocal about his desire for significant interest rate cuts to stimulate investments in the USA, already fired Cook "effective immediately" in August. The dismissal is related to Trump's efforts to influence the Federal Reserve's policies.
Cook, a former employee of former President Barack Obama, joined the central bank in May 2022, making her the first black woman to hold this position. She was appointed by Trump's predecessor, Joe Biden.
Trump cited alleged false statements related to private mortgage loans as the reason for Cook's firing. However, Cook denied the allegations and filed a lawsuit. A previous ruling by an appeals court had allowed Cook to remain in office temporarily.
The Federal Reserve, the central bank of the USA, has not adjusted the interest rate since December 2024. Pressure on the Fed has been growing, including from economic factors and US President Trump.
Trump's lawyer, John Sauer, is supporting the dismissal of Cook. The dismissal is not explicitly named in the search results as being currently being considered by the Supreme Court, but a motion has been filed for the immediate removal of Cook from the Federal Reserve board.
It is worth noting that the individual who requested the Supreme Court for the removal of Cook is not explicitly named in the search results. This individual appealed to the highest US court to suspend a lower court decision that currently prevents them from dismissing Cook.
The dismissal of Cook from the Federal Reserve board is a significant event, as it could potentially impact the central bank's policies and the broader economy. The Supreme Court's decision on the matter is eagerly awaited.
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