Fed Governor Cook will sue to keep her job as Trump mulls replacement

U.S. Federal Reserve Governor Lisa Cook plans to sue to block President Donald Trump from firing her. Trump cited alleged issues with mortgages she took out in 2021, claiming “deceitful and potential criminal conduct,” but Cook’s lawyer says the firing lacks any factual or legal basis.
The Fed emphasized that board members serve 14-year terms and can only be removed “for cause,” and it views Cook’s status as unchanged. Trump’s attempt to influence the Fed has rattled markets, with stocks and the dollar dropping amid fears of financial instability. Experts note that the mortgage questions predate Cook’s Fed appointment and were publicly vetted, making the firing unprecedented.
Credit: CGTN