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Judge Weighs Lisa Cook’s Bid to Block Trump as Fed Power Fight Hits Court
Judge Weighs Lisa Cook’s Bid to Block Trump as Fed Power Fight Hits Court
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BTCCSquare news:
A federal judge in Washington will rule Friday on whether Federal Reserve Governor Lisa Cook can retain her seat amid a legal battle with President Trump. Cook seeks an emergency order to prevent her removal until the court fully reviews the case. The outcome could significantly influence the Fed's anticipated rate cut in mid-September, as Cook's vote may sway the decision.
Cook's lawsuit contends that presidents lack authority to dismiss Fed governors without cause, typically reserved for neglect or misconduct. She argues Trump's reliance on unproven mortgage allegations is a pretext to install a rate-cut-friendly successor. The dispute underscores high stakes for monetary policy and Fed independence.
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