"The administration of United States President Donald Trump has asked an appeals court to remove Lisa Cook from the Federal Reserve's board of governors by Monday, before the central bank's next vote on interest rates. The request on Thursday represents an extraordinary effort by the White House to shape the board before the Fed's interest rate-setting committee meets next week on Tuesday and Wednesday."
"In a court filing on Thursday, the Department of Justice asked the US Court of Appeals for the DC Circuit to pause US District Judge Jia Cobb's Tuesday ruling temporarily blocking Cook's removal, pending the administration's appeal. Cook, who denies any wrongdoing, filed a lawsuit saying Trump's claim that she engaged in mortgage fraud before she joined the central bank did not give him legal authority to remove her, and was a pretext to fire her for her monetary policy stance."
The Trump administration asked the US Court of Appeals for the DC Circuit to reverse a district court decision and remove Lisa Cook from the Federal Reserve's board by Monday ahead of the Fed's interest-rate meeting. The Department of Justice requested a temporary pause of Judge Jia Cobb’s ruling that blocked Cook’s firing while her lawsuit proceeds. Trump moved to fire Cook in late August. Cook denies wrongdoing and sued, arguing allegations of pre-joining mortgage fraud did not legally justify removal and were a pretext tied to her monetary-policy views. A successful appeal would sideline Cook until courts resolve the case.
Read at www.aljazeera.com
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