Supreme Court puts off decision on whether Trump may fire Federal Reserve Governor Lisa Cook
Washington – On Wednesday, the Supreme Court decided that President Trump would fire out if he could shoot Federal Reserve Goven Lisa Cook and heard discussions about the case in January.
The court’s action allows Cook to remain in its position and prevents Trump from controlling the majority of the historically independent Central Bank Board.
Last month, the President said that he fired Cook for why ”he said, referring to the mortgage documents he signed in 2021.
However, Trump, including Cook, complained that the Federal Reserve Board of Directors did not reduce interest rates to satisfaction.
“We will soon have the majority, Tr Trump said, after firing Cook.
In September, Trump appointed Stephen Miran, the President of the White House Economic Consultants Council, to present a temporary period at the seven -member Federal Reserve Board. He joined the other two Trump appointments.
Congress wrote 1913 Federal Reserve Law To plan to give some independence to the Central Bank Board from politics and the current president.
Seven members are appointed by the President and approved by the Senate and continued for 14 years unless the lawsuit is sued by the President ”.
The law does not define what it will cause.
He appointed President Biden Cook to a temporary period and a year later in 2022.
In August, however, Bill Pulte, the director of Trump’s Federal Housing Finance Agency, claimed that Cook was a mortgage fraud when he received two housing loans in 2021. One, Ann Arbor, Mich. In both cases, he said he signed a credit certificate stating that the property would be the primary residence.
Mortgage lenders usually offer a lower interest rate for the primary residence of a debtor.
Cook did not directly reject the claim about the mortgage documents, but his lawyers told the lending to the lender as a holiday home of Atlanta Condo.
However, Trump sent a letter to Cook on August 25th. Im I have determined that there is enough reason to get you out of your position, ”he wrote.
Cook refused to resign and filed a lawsuit to object to the decision. The authority argued that the claim would not cause the law and that no hearing was given to object to it.
A federal judge in Washington accepted and blocked the fire, stating that the allegation of unproven mortgage fraud before the appointment of federal reserves.
The Court of Appeal refused to continue its fire with 2-1 votes.
Trump’s lawyers sent emergency appeal On September 18, the Supreme Court authorized the President of the Congress to ignite a Fed Governor.
Trump lawyer Gen. D. John Sauer, “Simply put, the President of the American people should not be determined by a governor who seems to have lied to the interest rates given by the American people to him, and he can reasonable to refuse to explain visible false statements,” he wrote.
However, justice refused to act in an emergency appeal and decided that they would make a full hearing and a written decision.
