Federal Reserve governor ‘fired’ by Trump issues scathing rebuke claiming president has no authority over central bank

Federal Reserve Governor Lisa Cook, Trump announced that he fired on Monday evening after he began a hearing with Donald Trump.

The dismissal of Cook was the first in the 111 -year history of the Federal Reserve, because Trump guaranteed a reserve to support the president’s cutting calls interest rates.

However, Cook made a statement claiming that he did not go anywhere on Monday night.

‘President Trump claimed why it was why there was no reason in accordance with the law and there was no authority to do so,’ ‘he said. I will not resign. As I have done since 2022, I will continue to fulfill my duties to help the American economy. ‘

His lawyer Abbe Lowell also promised to take action against Trump and ‘illegal’ movement.

Lowell, “ “ President Trump once again went to the social media for “fire by tweet” and once again a process of bullying reflex is defective and appropriate for demands, no basic or legal authority. “He said.

“ We will take all kinds of measures to prevent illegal action attempt. ‘

The president’s move has long been an institution, a sharp rise in the war to make more control over what has been accepted as independent of daily politics.

Trump is forcing Federal Reserve President Jerome Powell Cut the short -term interest rate of the Central Bank. The ignition Cook will clean the way of assigning a Maga Acolyte that can help Trump control over the institution.

In the war, in the war, a sharp climbed to implement more control over what has been regarded as an institution for a long time independent of daily politics.

In a letter published on the social platform, the truth said he fired Cook because of allegations of mortgage fraud.

“In the light of your deceptive and potentially criminal behavior … I don’t have so much confidence in your integrity, Tr Trump wrote.

So far, Powell argued that the rates should remain high because inflation has not fallen to its 2 percent target. Consumer prices remained high, since December 2024, 4.5 percent interest remained.

President Trump did not clearly agree with the decision by calling up to three percent deductions.

Lower rates make businesses borrow money cheaper, but most importantly, it reduces borrowing costs for ordinary Americans with more to spend on goods and services later. A higher ratio can cool consumer pricing.

Trump’s decision to ignite the cook has climbed. The president has been trying to cut against the independence of the Fed for months.

Normally, while the Fed has protected itself against political pressure inflation and high business growth throughout the USA.

However, the Fed is at a difficult point when the latest economic analysis is taken into consideration.

Since the President did not cut the short -term interest rate, Fed’s chair attacked Jerome Powell (on the left) and again, called him ‘too late’ and threatened to expel him

The job report of July was gloomy and claimed that Trump had to decrease. Meanwhile, the core inflation rate of the moon continued to climb.

Independent economists are confused about the right way.

Forcing Cook from the Fed’s board of directors offers Trump an opportunity to appoint a loyal.

Trump said he would only appoint authorities to support the cutting rates.

Recently, the President has accelerated his attempts to achieve low rates by exploding his leader Jerome Powell many times.

The odds falling from the Fed can save money for American consumers and businesses. This increases expenditures, stock prices and 401 (k) accounts.

The President also flirted again with overturning Powell while trying to reduce rates with political power.

Last week, the White House’s Treasury Secretary Scott Bessent said it would begin to replace Powell in September nine months before the end of the President’s term.

At the beginning of this month, Trump chose Stephen Miran, the President of the Council of Economic Consultants to serve the rest of the period from the unexpected exit of Governor Adriana Kugler.

Mortgage giants Fannie Mae and Freddie Mac’i arranged the agency Trump appointed Bill Pulte, the accusations made the official last week.

Pulte claims that Cook demanded two main houses to get better mortgage conditions in Ann Arbor, Michigan and Atlanta in 2021.

The regulator also published a portion of his letter to the US Chief Public Prosecutor Pam Bondi and referred to two loans that his agency received Cook’s mortgage documents and since June and July 2021.

‘He needs to quit because what he did is the reasons for shooting,’ he wrote a separate article.

The announcement arrived days later after Cook said that although Trump wanted Trump to resign before, he would not leave his post. The Fed Board of Directors has seven members, that is, means that Trump’s movement may have deep economic and political consequences.

Mortgage rates It is usually higher in second houses or in houses purchased.

Trump said he had a constitutional authority to remove Cook, but to do so, asking questions about the Fed’s control as an independent asset.

Fire is likely to touch a legal war, and Cook can be allowed to remain in the seat while playing a lawsuit.

Cook would have to fight the legal war as a wounded party instead of the FED.