The administration of US President Donald Trump last night asked the Appeals Court to remove Lisa Cook from the Federal Reserve Board (FRB) again by Monday, before its next interest rate vote, the Associated Press reported, quoted by BTA.
Trump tried to fire Cook on August 25, but late Tuesday a federal judge declared her removal unlawful and returned her to the Board.
The US president accused Cook of mortgage fraud before she joined the FRB Board of Governors after she declared two properties as “primary residences” in July 2021. Such a declaration could result in lower mortgage rates and a lower down payment than if one property were declared as a second property, the AP said. Cook has denied the charges.
On Tuesday, Judge Gia Cobb ruled that under the law, members of the Federal Reserve Board can only be fired for violations committed while in office.
In their immediate appeal, Trump's lawyers said that even if the violation occurred before she joined the Federal Reserve Board, her alleged actions "unquestionably call into question Cook's credibility and whether she can be a responsible guarantor of interest rates and the economy."
They asked the appeals court by Monday to urgently rule on the reversal of the lower court's decision. The next meeting of the Federal Reserve Board will be held on Tuesday, and on Wednesday it is expected to announce its decision on interest rates.
The US central bank is almost certain to cut its key interest rate by a quarter point to around 4.1%.
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Sep 12, 2025 06:15 211