Cook Defies Trump's Renewed Threats: No Basis for Removal
Federal Reserve governor Lisa Cook has shot down renewed threats from the White House to remove her from the central bank's governing board. In a letter, Cook cited a lack of legal basis for her removal, reiterating that she had done nothing wrong.
Trump first sought to fire Cook last year over allegations of mortgage fraud, which she denies. The Supreme Court ruled that Cook could remain in her position while the case was litigated and even allowed Trump to try again if he provided proper notice and a chance for Cook to contest it.
Cook's attorneys say this latest attack is 'an attempt by President Trump to force the Federal Reserve to bend to his will.' They note that any errors Cook made were unintentional and did not rise to a level justifying her firing. The White House had given Cook until Wednesday to respond, but she has maintained that there is no legal basis for her removal.