Trump’s Cook firing will likely end up in the Supreme Court’s hands

Beschreibung:

President Donald Trump’s attempt to fire Federal Reserve Governor Lisa Cook — the first such move in the Fed’s history — is expected to end up before the Supreme Court. Trump claims Cook made false statements on past mortgage applications, but Cook insists he has no legal cause to remove her and plans to sue. Analysts say the case could redefine the limits of presidential authority over the Fed and threaten its independence. If successful, Trump could secure a majority on the Fed board, giving him greater influence over interest rate decisions, CNBC has reported. For now, Cook is expected to seek an injunction to remain in her post until the courts rule.