Cook’s attorney said the president has ‘no authority’ and ‘lacks any factual or legal basis’ to fire the Fed governor

Cook’s attorney said the president has ‘no authority’ and ‘lacks any factual or legal basis’ to fire the Fed governor

The Federal Reserve governor Lisa Cook will sue the Trump administration over its bid to fire her over unconfirmed allegations of mortgage fraud, her attorney has said.

Donald Trump announced he was firing Cook on Monday night, in an extraordinary move that marks the latest escalation in the US president’s attack on the central bank’s independence.

But Trump has “no authority” to remove her from the Fed’s board of governors, Cook’s attorney, Abbe Lowell, argued in a statement to reporters, saying: “His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action.”

  • ShaggySnacks@lemmy.myserv.oneEnglish
    2·
    21 hours ago

    Bob Slydell: Milton Waddams.
    Dom Portwood: Who’s he?
    Bob Porter: You know, squirrely looking guy, mumbles a lot.
    Dom Portwood: Oh, yeah.
    Bob Slydell: Yeah, we can’t actually find a record of him being a current employee here.
    Bob Porter: I looked into it more deeply and I found that apparently what happened is that he was laid off five years ago and no one ever told him about it; but through some kind of glitch in the payroll department, he still gets a paycheck.
    Bob Slydell: So we just went ahead and fixed the glitch.
    Bill Lumbergh: Great.
    Dom Portwood: So, uh, Milton has been let go?
    Bob Slydell: Well, just a second there, professor. We, uh, we fixed the glitch. So he won’t be receiving a paycheck anymore, so it’ll just work itself out naturally.
    Bob Porter: We always like to avoid confrontation, whenever possible. Problem is solved from your end.

    That’s what Trumpie is going to do. Claim that they fired Lisa Cook and stop paying her.