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Why is Trump firing a Fed governor?

Asked 5 hours ago

Answer

Trump says he is firing Fed Governor Lisa Cook due to allegations of mortgage fraud, citing 'cause' as required by law. Legal experts question his authority, noting no charges have been filed and predicting litigation. Critics see the move as an attempt to gain more control over the Federal Reserve.

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CBS America

Trump says he fired Lisa Cook from Federal Reserve board

CBS America · Just In
CBS America
CBS America
Just In
  • President Trump announced he fired Federal Reserve governor Lisa Cook.
  • Cook is accused of mortgage fraud involving two properties listed as primary residences. 34s
  • Cook denies any legal grounds for her removal and has not been charged. 1m 1s
  • Legal experts say the law on firing Fed governors is unclear and expect court challenges. 1m 21s
  • The firing raises concerns about the Federal Reserve's independence and economic policy. 1m 37s
Politics

References

Trump says he fired Lisa Cook from Federal Reserve board
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CBS America
6 hours ago
Trump says he fired Lisa Cook from Federal Reserve board

Trump claims Cook committed mortgage fraud and has demanded her resignation, but Cook maintains there is no legal cause for her dismissal and she has not been charged with wrongdoing.

Trump says he fired Lisa Cook from Federal Reserve board
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CBS America
6 hours ago
Trump says he fired Lisa Cook from Federal Reserve board

The move raises concerns about the independence of the Federal Reserve and its implications for U.S. economic policy.

Trump says he is firing Fed Governor Lisa Cook
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CNBC
10 hours ago
Trump says he is firing Fed Governor Lisa Cook

Trump cites sufficient evidence that Cook may have made false statements on mortgage agreements and says he is removing her for cause, as required by law.

Former prosecutor reacts to Trump firing of Fed governor
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CNN
16 hours ago
Former prosecutor reacts to Trump firing of Fed governor

The administration is accusing Cook of committing mortgage fraud, but no formal investigation or charges have been brought by the DOJ.

Former prosecutor reacts to Trump firing of Fed governor
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CNN
16 hours ago
Former prosecutor reacts to Trump firing of Fed governor

Legal experts and commentators suggest Trump wants more control over the Fed and has repeatedly criticized it for not lowering interest rates.

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