The US Supreme Court on Monday said President Trump cannot fire Federal Reserve Governor Lisa Cook.
The high court, in a 5-4 vote ruled that Trump cannot remove Cook.
Lisa Cook filed a lawsuit against President Trump, the Federal Reserve Board of Governors, and Federal Reserve Chairman Jerome Powell after Trump fired her last summer.
The Trump Administration previously asked the US Supreme Court to intervene after a federal appeals court blocked Trump from firing Lisa Cook.
DOJ Solicitor General John Sauer, in his petition to the Supreme Court, said the lower courts have interfered with the President’s authority to remove members of the Federal Reserve Board of Governors for cause.
A federal appeals court previously rejected President Trump’s bid to fire Lisa Cook.
The DC Circuit Court of Appeals, in a 2-1 decision, said Lisa Cook can remain a Federal Reserve Governor, allowing her to vote during last month’s interest rate meeting at the Fed.
Lisa Cook apparently owns three properties, and she allegedly committed mortgage fraud on all three properties.
According to housing regulator Bill Pulte’s first criminal referral, Lisa Cook committed mortgage fraud by lying on her mortgage application and falsifying bank statements when she designated her out-of-state Atlanta condo as her “primary residence”—just two weeks after taking a loan on her Michigan home, which she also claimed as her “primary residence.”
Last August, Pulte sent a second criminal referral on Lisa Cook after she was allegedly caught lying about a third property.
Lisa Cook’s attorneys laughably claimed there would be an inflation crisis if Trump were allowed to fire Cook.
President Trump responded to the Supreme Court’s decision to reject his effort to fire Lisa Cook.
“The Cook Lawsuit, having to do with her suitability in sitting on the Board of the Federal Reserve, was sent back by the Supreme Court on a strictly procedural basis, we will take appropriate action immediately to make sure that someone who has committed wrongdoing will not be making vital decisions concerning the Welfare of the United States of America! Thank you for your attention to this matter. President DONALD J. TRUMP” Trump said.
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