Lisa Cook Rejects Trump's 2nd Ouster Bid as Fed Control Could Swing on 1 Seat
Updated
Updated · The Associated Press · Aug 26
Lisa Cook Rejects Trump's 2nd Ouster Bid as Fed Control Could Swing on 1 Seat
3 articles · Updated · The Associated Press · Aug 26
Summary
Wednesday's filing says Trump lacks legal cause to remove Fed Governor Lisa Cook, who denied that mortgage paperwork errors amounted to fraud.
Cook said one of the two homes cited had been described elsewhere as a vacation home, and any inconsistent filings were inadvertent rather than deceptive.
The White House had given Cook until Wednesday to answer renewed allegations that she claimed two properties as primary residences to obtain better mortgage terms.
The Supreme Court previously let Cook stay on the board while the case proceeds, though it said Trump could try again with proper notice and a chance to contest.
If Trump succeeds, he could appoint a replacement and give his appointees a majority on the Fed board, advancing his push for faster rate cuts.