President of the United States Donald Trump interferes with human resources policy Federal Reserve (Fed). national Reserve politician Lisa Cook (61) will be immediately removed from office on the board, announced a Republican in his fact Social program. In a letter to Cook The president cited reasonable grounds to believe that she had made false statements in 1 or more mortgage agreements.
According to the law, the president may revoke the president of the Central Bank only if there are adequate grounds for this. However, given the allegations against Cook that have not yet been proven in court, the existence of these grounds is highly questionable. It is so rather likely that Trump's decision will be contested and will go to the ultimate Court United States.
A fewer days ago, it became clear that the president of the United States wanted to get free of Cook. erstwhile asked by a writer if he would fire her, he replied, “Yes, I will fire her if she does not resign”. Cook didn't do it until Monday, announcing that you couldn't force him to step down.
Cook late made headlines due to allegations of alleged irregularities in the collection of mortgages. However, before these accusations arose, she had already rebelled against Trump as she regularly voted on interest rate decisions with the president of the national Reserve Jerome Powell (72) who had long refused to lower interest rates despite Trump's stated desire.
The national Reserve Council hesitated to face concerns about inflation, including Trump import duties. Trump's resignation calls failed. His threats of firing him were unanswered if necessary. Trump did not hesitate to make false accusations against Powell, for example regarding construction work in the national Reserve. Observers see Trump's effort to release Cook as a dramatic escalation of his run against Fed since returning to the White House.
The Cook word actually runs until 2038
The central bank was actually conceived as a politically independent institution capable of making decisions independently of the executive authority. Economist Cook has been on the Board of Directors since May 2022. According to Fed, her word of office lasts until 31 January 2038. Prior to her appointment, she held the position of prof. of economics and global relations at Michigan State University.
