\n<\/p>\n
A federal judge has ruled that a Federal Reserve board member, Lisa Cook, can stay in her post while suing Donald Trump over his unprecedented attempt to fire her.<\/p>\n
Cook is legally challenging the US president after he sought to remove her, citing unconfirmed allegations of mortgage fraud, amid an extraordinary campaign by his administration to strengthen its control over the US central bank.<\/p>\n
She asked US district judge Jia Cobb to impose a temporary restraining order against Trump\u2019s attempt to \u201cimmediately\u201d dismiss her, pending further litigation. The administration has argued that Trump is able to fire Fed governors \u201cfor cause\u201d and appoint replacements.<\/p>\n
Trump has spent months attacking the Fed, where most policymakers \u2013 including Cook \u2013 have so far defied his calls for interest rate cuts. He has spoken of rapidly building \u201ca majority\u201d on the central bank\u2019s board, calling into question the future of its longstanding independence from political oversight.<\/p>\n
Trump moved to fire Cook after one of his allies, Bill Pulte, whom he tapped to lead the US Federal Housing Finance Agency, alleged she had claimed two different properties as primary residences when obtaining mortgages in 2021.<\/p>\n
\u201cHow can this woman be in charge of interest rates if she is allegedly lying to help her own interest rates?\u201d Pulte wrote on X. He referred the case to the Department of Justice for investigation.<\/p>\n
After Cook declined to resign, Trump tried to remove her from the Fed\u2019s board. The justice department is now looking into the allegations of mortgage fraud.<\/p>\n
In a court filing, Cook\u2019s attorneys insisted she \u201cdid not ever commit mortgage fraud\u201d as they outlined their case.<\/p>\n
Multiple federal agencies were provided details of Cook\u2019s mortgage arrangements when she was first nominated, by Joe Biden, to join the Fed\u2019s board in 2022, according to her representatives. \u201cThe Government has long known about the alleged facial inconsistencies in Governor Cook\u2019s financial documents,\u201d the filing said.<\/p>\n
On one background check form, for example, Cook said that she had listed one property in Michigan as a primary residence and another in Georgia as a second home.<\/p>\n
On a separate questionnaire, she listed both homes as her \u201cpresent\u201d residence; the Michigan property as her \u201ccurrent permanent residence\u201d; and a third property, in Massachusetts, as both a present residence, but also a second home and rental property, she said.<\/p>\n","protected":false},"excerpt":{"rendered":"
A federal judge has ruled that a Federal Reserve board member, Lisa Cook, can stay in her post while suing Donald Trump over his unprecedented attempt to fire her. Cook is legally challenging the US president after he sought to remove her, citing unconfirmed allegations of mortgage fraud, amid an extraordinary campaign by his administration<\/p>\n","protected":false},"author":1,"featured_media":20529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[4310,7442,319,7865,77,675,10089,3665,517,666,81],"class_list":{"0":"post-20528","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-attempt","9":"tag-cook","10":"tag-federal","11":"tag-fighting","12":"tag-fire","13":"tag-judge","14":"tag-lisa","15":"tag-remain","16":"tag-reserve","17":"tag-rules","18":"tag-trump"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/20528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20528"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/20528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/20529"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}