Trump asks Supreme Court for go-ahead to fire Federal Reserve's Lisa Cook 
Share this @internewscast.com

The Department of Justice asked the Supreme Court on Thursday to enforce President Trump’s decision to remove Federal Reserve Governor Lisa Cook following allegations of mortgage fraud.

Cook took part in an important vote to reduce interest rates this week, despite a split decision from an appeals panel that denied the administration’s earlier request to intervene.

The administration waited until the Federal Reserve meeting concluded before approaching the Supreme Court, which has frequently ruled in favor of Trump in urgent matters.

Solicitor General D. John Sauer wrote in the application that the lower decisions “flout many strands of this Court’s precedents.” 

This request sets the stage for a significant confrontation in the Supreme Court concerning the autonomy of the Federal Reserve, an agency traditionally meant to operate independently of the White House’s political influence.

Trump is the inaugural president seeking to dismiss a Federal Reserve governor, having previously targeted the Fed’s chairman, Jerome Powell, with similar threats of dismissal.

Last month, Trump removed Cook from her position, based on a criminal referral by the Federal Housing Finance Agency alleging she identified properties in Michigan and Georgia as primary residences, which could potentially secure lower mortgage rates.

However, Cook’s lawyers have doubled down that the Fed governor has not committed mortgage fraud and say subsequent media reports that she referred to her Atlanta property as a “vacation home” in a loan estimate cast doubt. 

Cook also contends that the president’s reasoning for her firing, or “cause,” falls short of what’s required by law.  

Last week, a federal judge blocked Trump’s attempt to fire Cook, finding that her removal was likely unlawful and she didn’t receive enough process to contest the accusations. 

The administration raced to the U.S. Court of Appeals for the District of Columbia Circuit ahead of the Fed meeting, but the court discarded the administration’s emergency bid to immediately re-fire Cook in a 2-1 decision Monday evening. 

Cook went on to participate in the meeting of Federal Open Market Committee — the Fed’s monetary policymaking body, which includes the board members — which announced a quarter-point cut in its benchmark interest rate Wednesday afternoon. 

The vote came as Trump has for months railed against the central bank for refusing to lower interest rates amid uncertainty around his trade agenda and the volatility of markets.  

Cook voted with the majority for a quarter-point cut. 

Stephen Miran, Trump’s newest pick to join the Fed’s board who was confirmed narrowly by the Senate earlier this week, was the sole dissenter and voted for a larger, half-point cut. 

Share this @internewscast.com
You May Also Like

Results of the 2025 Minneapolis Mayoral Election Announced

Minneapolis residents are gearing up to elect their next mayor in the…

Protect Your Finances: Join AARP Georgia’s Free Fraud Prevention Workshop in Richmond County

HEPHZIBAH, Ga. – AARP Georgia, collaborating with local groups and law enforcement,…

Driver Succumbs to Injuries Following Semi Truck Rollover on Wolf Creek Pass

A tragic accident unfolded on Monday, November 3, in Mineral County, Colorado,…

Escalating Government Shutdown Sparks Surge in Air Traffic Controller Resignations, Warns NATCA Chief

The president of the National Air Traffic Controllers Association has highlighted a…

Rescue Mission Underway for Worker Trapped in Collapsed Medieval Tower in Rome

ROME (AP) — In the heart of Italy’s capital, firefighters battled to…

Suspect Apprehended in Attempted Kidnapping Incident at South Carolina School Following Classroom Window Breach

CHESTER, S.C. (QUEEN CITY NEWS) — Authorities have apprehended a 20-year-old man,…

Jonathan Bailey Crowned People Magazine’s Sexiest Man Alive for 2025

In an exciting revelation, Jonathan Bailey, known for his captivating role in…

USDA Prohibits Exclusive Discounts for SNAP Recipients: Grocery Stores Must Comply

The U.S. Department of Agriculture (USDA) has sent out a directive to…

Results Announced for Texas Congressional District 18 Special Election

In Texas’ 18th Congressional District, voters are mobilizing for a special election…

Florida Woman’s Bold Legal Battle: Suing Bryan County Sheriff for Unlawful 2022 Arrest

A Florida woman has initiated a federal lawsuit against the Bryan County…

Over 15,000 Voters Participate in Early Voting in Chatham County

CHATHAM COUNTY, Ga. () – Election officials in Chatham County are feeling…

DC Man Faces Trial for Viral Sandwich Assault on Federal Agent: A Case Grabbing National Attention

WASHINGTON – Sean Charles Dunn has become an unexpected figure of defiance…