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Legal Battle Over Fed Governor’s Position Intensifies Amid Rate Decision
Legal Battle Over Fed Governor’s Position Intensifies Amid Rate Decision
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BTCCSquare news:
President Trump's attempt to remove Federal Reserve Governor Lisa Cook has escalated into a legal confrontation, coinciding with a pivotal Fed rate cut decision. The administration alleges mortgage fraud involving two properties, while Cook maintains her innocence through legal channels.
A federal judge's preliminary injunction has temporarily preserved Cook's position, allowing her participation in the recent 25 basis point rate cut vote. The D.C. Circuit Court's 2-1 decision to uphold this injunction underscores the judicial system's role in checking executive authority over central bank governance.
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