The US Justice Department Rejects President Trump’s Claim to Fire Fed Official
The US Justice Department has rejected President Donald Trump’s claims that he had the authority to fire Fed official Lisa Cook, arguing that her dismissal was “a pretext to pave the way for a rate cut.” Cook, who has been accused of mortgage fraud, has filed a lawsuit challenging her dismissal.
Government lawyers reiterated arguments made at last week’s hearing, stating that Cook’s request to block her dismissal pending trial should be denied. The Justice Department’s stance on the matter comes in light of reports of a criminal investigation into Cook, with the administration citing fraud allegations raised by Federal Housing Finance Agency Administrator Mark Pulte as “cause” for Cook’s removal.
The department further argued that the court lacked the authority to question President Trump’s reasoning for firing Cook. They stated, “His only ‘evidence’ is that the President criticized Fed policy. However, the existence of a policy disagreement does not justify the President’s dismissal of Cook.”
Conclusion
It is important to note that the information presented in this article is not intended as investment advice.