President Donald Trump said that he will immediately remove the Federal Reserve Officer Lisa Cook from his post, a great escalation of his battle against the US Central Bank.
In an advertisement issued on his social media platform, Trump published a letter addressed to the cooking, which he had reported to remove it from the bank’s board of conservatives immediately.
He said that there is a “sufficient reason” to believe that she made false statements about the mortgage agreements, and pointed to constitutional powers that he said was allowed to remove them.
In response, Cook said that Trump has no power to release it and will not resign.
“President Trump claims to call me” for a reason “when there is no reason under the law, and he has no authority to do this,” Cook said in a statement.
“I will not resign. I will continue to implement my duties to help the American economy as I have been doing since 2022,” she added.
The Federal Reserve has not yet commented on the president’s announcement, which he made late on Monday.
Trump has increased pressure on the Federal Reserve – especially its president, Jerome Powell – in recent weeks about what the central bank does not see the low interest rates. He has repeatedly put forward the possibility of shooting Powell.
His decision to shoot Cook, one of the seven members of the Federal Reserve Board and the first African American woman to serve in this role, is believed to be unprecedented in the history of the 111 -year -old central bank.
It is also possible that they will raise legal questions, as experts indicate that the White House will need to show it – it is possible in the court – that he had a sufficient reason to release them.
According to Trump’s message, Cook signed a single document that testifies that a property in Michigan will be her basic residence for the next year.
“After two weeks, another document signed a property in Georgia stating that it will be your basic residence for the next year,” the president said.
“It is unreasonable that you are not aware of your first commitment when achieving the second,” he wrote.
The president had called for her resignation last week due to the claim of mortgage fraud, which was first presented in a public letter from the housing financing organizer, Bill Polly, Trump’s ally, to Pam Bondi’s public lawyer.
Housing financing organizer described the letter as a “criminal referral” and urged the Ministry of Justice to investigate. It is not clear whether an investigation has been opened.
Tell Cook BBC in a statement last week She learned of allegations from the media, and the issue stems from the request of a mortgage loan that she submitted four years ago before joining the central bank.
She said, “I have no intention to intimidate my position because of some questions that were raised in a tweet.”
“I intend to take any questions about my financial history seriously as a federal reserve member, so I collect accurate information to answer any legitimate questions and provide facts.”
If Cook or the Federal Reserve resists Trump’s decision to overthrow it, experts suggest that it may lead to a confrontation between the central bank and the White House. The Federal Reserve gained independence from the US government in 1951.
Trump has expressed an increasing hostility to Powell, describing him as “Numbskull” and “stubborn fool” because he did not support the president’s calls for fast and large discounts to borrowing prices.
But last week, Powell boiled the expectations that there will be a reduction in the interest rate In September. Speaking to central bankers who gathered in Jackson Hall and Wyoming, he also argued that the inflationary effect of Trump’s definitions may be temporary.
The weakest US dollar against major global currencies in the trading of Asia on Tuesday, as investors are betting that the replacement of Cook is likely to pay for further discounts in interest rates.
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