Washington (USA), 28 August (LaPresse) – Federal Reserve Board Governor Lisa Cook has sued Donald Trump, calling the president's attempt to fire her ‘unprecedented and illegal’ and a pretext for taking control of the Fed's decision-making body. Federal law allows the president to remove members of the Federal Reserve Board ‘for cause’. Trump claimed he had valid grounds for firing Cook based on an unsubstantiated allegation of fraud related to mortgages taken out by Cook. ‘President Trump's conception of “just cause” has no limiting principle,’ Cook argues in the lawsuit, ‘and would allow him to remove any member of the Federal Reserve Board with whom he disagrees on policy, based on unsubstantiated allegations.’
© Copyright LaPresse
