"A federal judge blocked President Donald Trump's attempt to fire Lisa Cook from her post as a Federal Reserve governor, setting up a legal showdown that will likely head to the Supreme Court. US District Judge Jia Cobb ruled in favor ofa temporary restraining order requested by Cook's lawyers, meaning the decision stands while additional litigation plays out, or unless it is reversed by a higher court."
"Trump published a letter on his Truth Social account in August announcing he was firing Cook for "cause," citing apparent irregularities in her mortgage documents found by Federal Housing Finance Agency Director Bill Pulte. According to Pulte, the director of the Federal Housing Finance Agency, Cook had said that two different properties she purchased at around the same time would be her primary residence. He also made a referral to the Justice Department, which opened a criminal investigation into Cook that one of her lawyers called "politicized.""
A federal judge issued a temporary restraining order that blocks President Trump's attempt to remove Lisa Cook from her Federal Reserve governor post, leaving her in place while litigation continues. US District Judge Jia Cobb granted the order at Cook's request, meaning the firing cannot take effect absent further court action. Trump announced Cook's removal on Truth Social, citing alleged mortgage irregularities identified by Federal Housing Finance Agency Director Bill Pulte. Pulte referred the matter to the Justice Department, prompting a criminal probe that Cook's lawyer called politicized. Cook sued to bar the firing and her attorney says she is owed due process. Pulte has made similar mortgage-related claims about other Trump critics, and the dispute may escalate to the Supreme Court, which has given presidents more leeway on independent agency firings but treats Fed governors differently.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]