Lisa Cook, 61 years old, is an economist who was sworn in as a member of the Federal Reserve Board of Governors in 2022, making her the first black woman to serve. Donald Trump wanted her fired, however his Supreme Court says no, at least until January.
Donald Trump has been coming for Lisa Cook’s job, accusing her of mortgage fraud, but Cook denies all wrongdoing and has not been charged with any crime. Lower courts already ruled that the firing was illegal, but the bigger fight now is whether presidents can just kick out Federal officials at as he pleases. Lisa Cook, who was appointed by President Biden, says she won’t be bullied out of her role. Interestingly enough The Supreme Court didn’t stand by their man saying they’ll hear full arguments in January about whether President Donald Trump actually has the power to force her off the Federal board. With the court decision, Cook will vote at the Federal Open Market Committee’s October and December meeting for sure and possibly in January.
The high court’s brief and unsigned order came months after a majority of justices appeared to draw a line of protection around the Fed, calling the rate-setting agency a “uniquely structured” entity with a “distinct historical tradition” shielding it from presidential politics – even as the court has permitted Trump to fire leaders at other agencies, like the Federal Trade Commission.
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