Source: 10 data
Trump on Friday asked the judge to reject a request from Fed Chairman Cook, the request aims to issue an order barring Trump from firing her pending her lawsuit is resolved in court.
The Justice Department said in a court filing Court should respect Trump's decision on whether he had sufficient "reasons" to fire Federal Reserve Governor Cook, the Justice Department documents were filed hours before a hearing on a high-stakes lawsuit challenging Cook's dismissal began.
In a filing Friday, the White House argued that Cook's request for a temporary injunction to prevent her dismissal should be denied,Because she is "highly unlikely to win the case"That is, she claims that Trump illegally fired her without a necessary “reason.”
The government said: "'Reasonable' dismissal is a broad criterion,Congress has given that discretion to the president.Even if it is subject to any judicial review - more than a century of legal precedent suggests it is not - that review must be highly respectful so as not to infringe on the president's constitutional authority over key officials. "
U.S. District Judge Jia Cobb, appointed by former President Joe Biden, has scheduled a hearing on Friday over Cook’s request for a temporary ban to decide whether she can continue to serve.
In a separate court filing, the Fed did not take a position on Mr. Cook's lawsuit challenging the president's termination, but asked Judge Cobb to issue a "swift ruling" to resolve the dispute.
Cook sued Trump, the Federal Reserve Council and Federal Reserve Chairman Powell on Thursday. The lawsuit said Trump's dismissal of her was unlawful and asked Cobb to issue an order to keep her in office during her trial.
Powell and the Federal Reserve were sued only to the extent that they might at some point execute Trump’s intention to dismiss her.
The Supreme Court is likely to finally resolve the dispute.
Bill Pulte, director of the Federal Housing Finance Administration, has filed a new criminal complaint with U.S. Attorney General Pam Bondi, accusing Federal Reserve Governor Lisa Cook of suspected mortgage fraud, intensifying the Trump administration's pressure on the Fed governor.
The latest lawsuit, filed on Aug. 28, follows a complaint earlier this month that Mr. Cook falsely listed two properties in Michigan and Georgia as his "primary residence" when he applied for a mortgage in 2021, a declaration that would normally lead to better loan terms.
The latest lawsuit accused Cook of signing a mortgage agreement for a $36,1 million apartment in Cambridge, Massachusetts, claiming that the property was her “second home,” however, Palt said, eight months later, Cook declared $15,000 to $50,000 in rent revenues and declared the property as “invested property.”
Cook’s lawyer, Abbe Lowell, said in a statement: “These vague, unfounded allegations have nothing to do with President Cook’s role in the Federal Reserve and should never serve as a reason to remove her from the board.”
Lowell said: "This is clearly a smear campaign to discredit Governor Cook.A political manipulator has posted more than 30 posts on social media over the past two days demanding his dismissal without any censorship of facts or evidence.
The Fed declined to comment.
After receiving the first criminal complaint, Trump has decided to fire Cook, which has paved the way for a fierce legal battle and further escalated his struggle against the Federal Reserve. Trump has repeatedly attacked the Federal Reserve and its Chairman Jerome Powell, demanding that they lower interest rates. If successful in removing Cook, he will have a majority on the Fed Board of Governors.
However, Cook is trying to block the move, filing a lawsuit in federal court on Thursday, calling the president's decision to remove her "illegal" and viewing it as an attempt to take control of the Federal Reserve. Her lawyers also said that the mortgage dispute mentioned in Pulte's first criminal complaint may have been due to an unintentional "clerical error." The U.S. Department of Justice has indicated that it plans to investigate Cook in the previous lawsuit.
Pulter's latest lawsuit also raises additional questions about Michigan and Georgia properties involved in the original lawsuit. Pulter said the FHA has reason to believe that Cook's Michigan property is "currently being used as rental property," and that although she called the Georgia property a "personal residence" in a federal disclosure document, she appears to have tried to rent it. He asked the Justice Department to investigate whether Cook committed "additional potential criminal offences and material misrepresentations" to "obtain and maintain his directorship."
Pulter recently criticized Cook through social media. "No one is above the law," Cook wrote on social media Thursday after filing the lawsuit. He also released a chart that claimed to show a match between signatures on mortgage documents for properties in Michigan and Georgia.