WASHINGTON (AP) — Georgia native Federal Reserve Governor Lisa Cook has sued the Trump administration in an effort to overturn the president’s attempt to fire her, launching an unprecedented legal battle that could significantly reshape the Fed’s longstanding political independence.
The lawsuit seeks an injunction to block her firing and “confirm her status” as a member of the Fed’s governing board.
No president has sought to fire a Fed governor in the institution’s 112-year history until Trump posted a letter on media late Monday saying that Cook was fired. Trump said the reason for her removal were allegations that she committed mortgage fraud involving an Atlanta condo in 2021, before she was appointed to the board.
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