The governor of the Lisa Cook Federal Reserve, to which President Donald Trump has been harassed and accusing of fraud for days, will file a lawsuit against the dismissal that the president himself has notified him by letter, as announced on Tuesday the economist’s lawyer.
“President Trump has no authority to dismiss the governor of the Lisa Cook Federal Reserve,” explains the lawyer Abbe Lowell in a statement published just hours after Trump sent a letter to Cook in which she announced her dismissal “with immediate effect.”
“His attempt to say goodbye, based only on a letter of recommendation, lacks a factual and legal basis. We will file a lawsuit against this illegal action,” writes Lowell in reference to the accusation he launched against her last week the director of the Federal Housing Financing Agency, Bill Ablict.
Antarta requested by letter to the Department of Justice that investigates Cook on account of two mortgages in his name, but for the moment no official investigation against her has been opened.
However, Trump began to claim the resignation of the economist in his social network, who was nominated for the position for his predecessor, Joe Biden.
On Monday the Republican fulfilled his threats to fire Cook if he did not give up for the position and also published the letter he sent him, in which he ensures that “there is enough reason to believe that you may have made false statements about one or more mortgage agreements.”
Lee also: Trump takes his fight against a new level with the dismissal of Lisa Cook
An American president can dismiss a member of the Board of Governors of the FED but only for just cause, which usually implies bad praxis or criminal behavior, but never a disagreement in the field of monetary policy.
After the publication of the Cook Dismissal Charter he reiterated his intention not to leave his position.
The Fed, meanwhile, has not spoken at any time on the case and has not reported whether Cook is working today.
If Trump makes Cook leave his position effectively he will have to name a substitute, which would increase the number of governors designated by him at the Board that decides on the monetary policy of the agency.
Trump and his administration have been pressing the FED and its president, Jerome Powell for months, to lower interest rates, which implies a frontal attack on the independence of the emitting entity.
With EFE information
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