Trump’s (R) Bid to Fire Lisa Cook, a Member of the Federal Reserve Board, is likely Illegal and She must be immediately Reinstated, a Federal Judge Ruled Tuesday.
U.S. District Judge Jia Cobb concluded that Trump’s Effort to Fire Cook over Allegations of Mortgage Fraud that Predated Her Time on the Fed Board.
It Violated a Federal Law meant to Insulate the Interest-Rate-Setting Body from Political Pressure.
Only Cook’s Conduct on the Job could be Grounds for Removal, Cobb Ruled.
The Decision Triggers a High-Stakes Appeals Court Battle, that is likely to Quickly Land at the Supreme Court.
The Justices have Repeatedly Endorsed Trump’s efforts to Fire Powerful Federal Regulators and Policymakers, but the Justices have also Signaled they View the Fed as a Unique, “Quasi-Private” Institution that may be entitled to more Independence than other Agencies housed within the Executive Branch.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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