The Trump government asked ThursdayThe Supreme CourtFor an emergency assignment to deleteLisa Cookvan de Board of Governors of the Federal Reserve.
The Republican government turned to High Court after a court of appealrefused to go along with the dispatch of KokPart of the efforts of President Donald Trump to reform the seven -member board of the FED and make a blow to his independence.
The White House campaign to escape Cook marks an unprecedented offer to reform the Fed Board, which was designed to be largely independent of daily politics. No president has fired a sitting FED governor in the 112-year history of the agency.
Cook, who was appointed by President Joe Biden, a Democrat of the Fed, said she will not leave her position andwill not be “bullied”By Trump. One of her lawyers, Abbe Lowell, said that “she will continue to perform her sworn tasks as a director confirmed by the Senate.”
Separately, senate republicans on MondayStephen Miran confirmedTrump’s nomineed to an open space in the Fed board. Both Cook and Miran participated in Wednesday’s vote in which the Fedlower his most important interestRate with a quarter point.
Trumptried to fire cookOn August 25, but a federal court ruled last week that the removal was probably illegal andRestored hairto the board of the Fed. Trump accused Cook of mortgage fraud because they seemed to claim two property in June and July 2021, in Michigan and Georgia, as ‘primary homes’ before she came to the board. Such claims can lead to a lower mortgage interest rate and a smaller down payment than if one of them was declared as a rental home or a second home.
“Simply put, the president can reasonably determine that the interest rates paid by the American people should not be determined by a governor who seems to have lied about factual material against the interest rates that she has protected for herself – and refuses to explain the apparently wrong representation,” wrote lawyer -general D. John Sauer.
But Cook has denied misconduct and is not accused of a crime. According to documentsobtained by the corresponding pressCook specified that her apartment in Atlanta would be a ‘holiday home’, according to an estimate of the loan she obtained in May 2021. And in a form that was looking for a safety authorization, she described it as a ‘2nd house’. Both documents seem to undermine the claims of the Trump government about fraud.
Judge Jia Cobb of the American district ruled that the administrationhad not met a legal requirementThat Fed Governors can only be fired ‘for cause’, of which she said it was limited to misconduct while she was in office. Cook only came to the Fed’s plate in 2022.
Cobb also ruled that Trump Kok would have robbed of her appropriate process or legal right to dispute the dismissal.
With a 2-1 vote, a panel from the Federal Appeals Court in Washington rejected the request of the administration to allow the dismissal of Cook to continue.
Trump’s lawyers argued that even if the behavior took place as a governor before her time, her alleged action “unquestionably question the reliability of Cook and whether she can be a responsible steward of interest rates and economy.”
Trump has previously won orders from the conservative majority of the Court to dismiss the presidentially appointed leaders of other independent federal agencies, including the National Labor Relations Board and the Federal Trade Commission, even while legal fighting continues.
Those shooting have been as desired, for no reason. The Supreme Court has distinguished the Federal Reserve from those other agencies, which strongly suggests that Trump cannot act against Fed Governors for no reason.
In her new submission to the Supreme Court, the Chief Justice John Roberts government asks for a temporary order that Cook would effectively remove from the board and a more lasting order of the entire court that would be present while her legal case continues.
The president informed Cook of the charges against her and waited five days for her to respond before she removed her. After he refused to bring De-Fense to the attention of the president or to dispute material facts, Cook cannot be committed on insufficient process.
The court as an alternative
—Mark Sherman, Associated Press
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