The Trump administration filed an emergency request to the Supreme Court on Thursday to remove U.S. District Judge Jia Cobb’s order that temporarily blocks President Trump’s attempt to fire Fed Governor Lisa Cook. Yesterday, the central bank voted to reduce interest rates by 25 bps, with Cook voting in favor of the move.
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“This application involves yet another case of improper judicial interference with the President’s removal authority -here, interference with the President’s authority to remove members of the Federal Reserve Board of Governors for cause,” read the Justice Department’s filing.
Trump’s Unprecedented Effort to Remove Fed Governor Lisa Cook
On Monday, the U.S. Court of Appeals for the District of Columbia Circuit denied the administration’s request to put Cobb’s order on hold in a 2-1 vote, resulting in the motion being sent to a higher court.
The Trump administration is treading uncharted waters, as no president has ever fired a Fed governor. Trump alleges that Cook committed mortgage fraud by listing two separate properties as her principal residence, receiving unfair mortgage benefits in the process.
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