President Trump made a last-ditch attempt on Sunday to persuade a U.S. appeals court to let him dismiss Federal Reserve Governor Lisa Cook ahead of this week’s policy meeting, citing unresolved mortgage fraud claims.
- Trump asked the Washington appeals court to lift a lower court’s September 9 injunction blocking the move.
- A ruling from the three-judge panel could come as soon as Sunday or Monday. If denied, Trump plans to appeal to the Supreme Court before the Fed’s Federal Open Market Committee (FOMC) September 16–17 meeting.
Trump moved to oust Cook last month after FHFA Director Bill Pulte accused her of improperly declaring two homes as primary residences to secure better mortgage terms, in transactions predating her Fed tenure.
Earlier:
- US court rules Fed’s Lisa Cook can stay on as a Governor for now
- The US dollar has lost a few points following the news that Fed Governor Cook safe for now
- Pres. Trump appeals court ruling blocking removal of Fed Gov. Cook
Trump’s bid to oust Fed Governor Cook fuels uncertainty over central bank independence ahead of the September rate meeting, adding a layer of political risk for USD and Treasuries.
This article was written by Eamonn Sheridan at investinglive.com.
