The Ruler of the Federal Reserve, Lisa Cook, sues President Trump

The Federal Governor Lisa Cook suits the president Donald Trump To expel it from the committee that directs the monetary policy of the nation.

The lawsuit, which was filed in the Federal Court on Thursday, stems from allegations that Cook had committed fraud on the mortgage before joining the federal reserve. The case is likely to go to the Supreme Court and put a major escalation in the increasing clash between the White House and the Federal Reserve.

Trump says he is “always” ready for legal fighting as the Federal Reserve Governor’s lawsuit was overthrown

The White House fell after the lawsuit, and insisted on Trump’s behavior in his authority to overthrow Cook.

“The president decided that there is a reason to remove the ruler who was accused of lying in financial documents from a very sensitive position that supervises financial institutions,” White House spokesman Kush Desai wrote in a statement to Fox News Digital.

He added: “The removal of the ruler of the cause improves the accountability of the Federal Reserve and the credibility of both the American markets and the people.”

The Federal Reserve refused to comment. Cook lawyer did not immediately respond to the Fox News Digital request for comment.

Trump wrote in a letter to Cook on August 25 that he had “had a sufficient reason” to launch it, saying that her dismissal was “immediately effective.”

Trump removes the ruler of the Federal Reserve, Lisa Cook from his post, noting the allegations of fraud

A day later, Cook said it would not resign from his position in the federal reserve, the most powerful central bank in the world. “I will continue to implement my duties to help the American economy as I have been doing since 2022,” Cook wrote in a statement. Its mandate on Federal Reserve The Board of Governors will continue until January 2038.

It is not immediately clear whether Cook has tried to enter the headquarters of the Federal Reserve in the Foggy Bottom neighborhood in the capital since Trump’s speech was completed.

the Federal Reserve She refused to say if Cook had tried to work from her office, work remotely or keep the email and other resources she needs for her job.

The Federal Reserve Council, known as the Federal Reserve, is composed of seven members, or rulers, nominated by the president and affirming it by the Senate. This committee is a central banker in charge of planning the nation’s economic path.

Cook’s rise was a historical history first, as she became the first black woman working as a ruler in the Federal Reserve. Now, it can put its potential removal, interlocking in the legal procedure, another historical precedent.

These allegations were presented by Bill Bouti, one of Trump’s numbers in an agency organizing Fanny and Faridi Mac. Pulte Cook was accused of asking two initial housing, one in Michigan and another in Georgia in 2021, with the aim of obtaining more favorable loan conditions.

On August 15, send Pulte Ministry of Justice A criminal referral regarding Cook accused her of falsifying banking documents and property records.

Trump launched the Federal Reserve Governor Lisa Cook because of the alleged mortgage fraud: What did you do?

Cook denied any violations, and said in the wake of the referral of Polly that she “has no intention to intimidate in order to step down.”

“I intend to take any questions about my financial history seriously as a member of the federal reserve, so I collect accurate information to answer any legitimate questions and provide facts,” Cook wrote in a statement.

The Federal Reserve had previously approved the possible legal procedure for Cook and said in a statement on August 27 that the US Central Bank “will” adhere to any decision of the court. “

“Lisa Cook, through her personal lawyer, indicated that she will challenge this procedure immediately in court and seek to make a judicial decision that would confirm her ability to continue to fulfill her responsibilities as a confirmed member of the Senate in the Council of the Federal Reserve Governors.”

Trump said during the cabinet meeting on Tuesday that he was ready to fight the possible legal fight of Cook.

Trump told reporters at the White House: “It seems that she has a violation and cannot suffer from a violation. Especially this violation because it is responsible for that, if she thinks about it, mortgaging,” Trump told reporters at the White House at the White House.

When asked about the replacement of Cook on the federal reserve board, Trump told the reporters that he had some “very good people for this position.”

Tensions between Trump and Federal Reserve have intensified monetary policy in recent months. Trump has placed the blame directly on the Federal Reserve Chairman Jerome Powell Because the rate of targeted federal funds, which he says, can save the nation “hundreds of billions of dollars”.

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Meanwhile, Powell maintained the goal of the main borrowing rate of the central bank in the range of 4.25 % to 4.5 %, while maintaining the waiting and waiting approach and officials assessing the economic effects of Trump’s definitions. More than 80 % of the market participants seek to reduce a rate of 25 % at the September meeting, as it followed before Fedwatch CME. Which measures the average possibility.

“We will have a majority very soon,” Trump said, adding that he will be able to influence the largest rates. “So it will be great.”

Fox News Digital’s Rachel Wolf Fox Business’ Eric Rafel He contributed to this report.

This is a developing story. Please check again for updates.