Government said Cook’s legal arguments for why she should stay in the job were meritless. She has been accused of mortgage fraud
US President Donald Trump’s administration renewed its request on Sunday for a federal appeal court to let him fire Lisa Cook from the Federal Reserve’s board of governors, a move the president is seeking ahead of the central bank’s vote on interest rates.
The Trump administration filed a response just ahead of a Sunday deadline to the US Court of Appeals for the District of Columbia, arguing that Cook’s legal arguments for why she should stay in the job were meritless.
Lawyers for Cook argued in a Saturday filing that the Trump administration has not shown sufficient cause to fire her, and stressed the risks to the economy and country if the president were allowed to fire a Fed governor without proper cause.
Sunday’s filing is the latest step in an unprecedented effort by the White House to shape the historically independent Federal Reserve. Cook’s firing marks the first time in the central bank’s 112-year history that a president has tried to fire a governor.
