Court rules in favor of Lisa Cook, allowing her to continue as Fed governor despite Trump’s attempt to oust her
A federal court ruled that Federal Reserve Gov. Lisa Cook can stay in her position while fighting President Trump’s attempts to fire her. The ruling is a setback for Trump’s efforts to control the traditionally independent Fed. Cook was accused of mortgage fraud, but the court found the allegations insufficient legal cause for firing her. The decision allows Cook to participate in the upcoming Fed meeting where rates are expected to be reduced. The lawsuit could have significant implications for the Federal Reserve’s independence. Trump’s actions have raised concerns about political interference in the Fed’s decision-making process.
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