"The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve, Trump wrote recently on Truth Social."
"In light of (Cook's) deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity."
"Let me be crystal clear: removing Dr. Cook from the Board without legitimate cause is unconstitutional, and I am confident it will not stand in court, Waters said in a statement."
"Make no mistake, Committee Democrats will fight this illegal attempt to fire Dr. Lisa Cook with everything we have. We will not allow Trump or any of his allies to hijack our institutions for their authoritarian ends."
President Trump publicly challenged Federal Reserve Governor Lisa Cook, citing alleged deceitful and potentially criminal conduct in a financial matter and saying he lacks confidence in her integrity. Cook defended herself, refused to resign, and drew support from Representative Maxine Waters, who called removal without legitimate cause unconstitutional and vowed legal resistance. Committee Democrats pledged to fight any attempt to remove Cook, framing it as an illegal effort to hijack institutions. The Fed has faced recent turnover with Adriana Kugler's resignation and an expected vacancy likely to be filled by a Trump ally. Supreme Court precedent indicates removal requires cause, making the dispute likely to reach the high court.
Read at www.housingwire.com
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