Lisa Cook sues Trump for attempting to fire her
The complaint highlighted that the firing came amid "unsubstantiated allegations about conduct that predated her Senate confirmation, and Cook has never been given the opportunity to address them."
Lisa Cook taking the oath of office.
Federal Reserve Governor Lisa Cook filed a lawsuit against President Donald Trump's decision to fire her from office. The Republican's retaliation came after Cook refused to resign.
"Trump's conception of 'cause' has no limiting principle; it would allow him to remove any Federal Reserve Board member with whom he disagrees about policy based on chalked up allegations," Abbe Lowell, who represents Cook, wrote in the legal document picked up by Axios.
In that regard, the complaint highlighted that the firing came amid "unsubstantiated allegations about conduct that predates her Senate confirmation, and Governor Cook has never been given an opportunity to address them."
For months, the president has called on the Fed to slash interest rates, repeatedly criticizing Chairman Jerome Powell for acting "too late" and calling him a "moron."
President Trump demanded Cook's resignation after Federal Housing Finance Agency (FHFA) Director William Pulte reported that the governor allegedly had listed as a "primary residence" two separate properties: an out-of-state condominium and her Michigan home, just weeks apart.
According to Pulte, this action amounts to mortgage fraud.
"Cook must resign, now!!!" Trump tweeted.
Trump puts pressure on the Federal Reserve
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