"Federal Reserve governor Lisa Cook urged the US supreme court on Thursday to reject Donald Trump's attempt to fire her, telling the justices the Republican president's unprecedented move would destroy the central bank's independence and disrupt financial markets. Lawyers for Cook filed a written response opposing the justice department's 18 September emergency request to lift a federal judge's order that blocked Trump from immediately removing Cook, an appointee of Democratic former president Joe Biden, while her legal challenge continues."
"Washington-based US district judge Jia Cobb ruled on 9 September that Trump's claims that Cook committed mortgage fraud before taking office allegations that Cook denies likely were not sufficient grounds for removal under the 1913 law that created the Fed. The US court of appeals for the District of Columbia circuit in a 2-1 ruling on 15 September denied the administration's request to put Cobb's order on hold, ruling that Cook likely was denied due process in violation of the US constitution's fifth amendment."
Lisa Cook asked the US Supreme Court to block President Donald Trump's attempt to remove her, arguing the action would destroy Federal Reserve independence and unsettle markets. Her lawyers opposed the Justice Department's emergency request to lift a federal judge's order that temporarily prevented her immediate removal. Judge Jia Cobb found the fraud allegations likely did not meet the 1913 law's removal standard. The D.C. Circuit denied a stay, finding likely Fifth Amendment due process violations. Cook denies the allegations, contends the removal is a pretext linked to her monetary policy views, and is the first Black woman Fed governor.
Read at www.theguardian.com
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