"President Donald Trump's legal team has filed an appeal of a judge's ruling to keep Federal Reserve Governor Lisa Cook in her position after the commander in chief canned her last month. Trump's expected appeal landed on Wednesday, a day after U.S. District Judge Jia Cobb granted Cook's request for a preliminary injunction to block her ouster as she goes to war against the Trump administration in court."
"In her ruling Tuesday night, Cobb wrote that the removal of a Federal Reserve Governor extends only to concerns about the Board member's ability to effectively and faithfully execute their statutory duties, in light of events that have occurred while they are in office. The legal saga began last month when Trump announced in a Truth Social post that he was firing Cook in response to claims by Federal Housing Finance Agency chief Bill Pulte that she had committed mortgage fraud."
"You are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately, Trump wrote in a letter accompanying the Truth Social post. In response, Cook filed a lawsuit against Trump, alleging his actions are unprecedented and illegal. Cook, the first Black woman to serve on the Fed's Board of Governors, has not been charged with any crimes, though Pulte has referred his findings to the Department of Justice."
Donald Trump filed an appeal to the D.C. Circuit after a judge granted Federal Reserve Governor Lisa Cook a preliminary injunction blocking her removal. Judge Jia Cobb found removal authority applies only when a governor cannot effectively and faithfully execute statutory duties based on events while in office. The removal followed Trump's Truth Social announcement citing Federal Housing Finance Agency chief Bill Pulte's allegations of mortgage fraud related to dual primary residences. Cook sued, calling the removal unprecedented and illegal. Cook has not been charged; Pulte referred his findings to the Department of Justice. Concerns arose about preserving Federal Reserve independence.
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