TechFlow, August 28 — According to Jinshi Data, on Thursday, Federal Reserve Governor Cook filed a lawsuit against the U.S. federal court in Washington, D.C., attempting to block President Trump from removing her from office. The lawsuit names Fed Chair Powell and the Board of Governors as defendants. On Monday, Trump stated he intended to remove Cook due to allegations that she committed fraud in mortgage applications related to two residential properties under her name.
Cook's attorney, Abbe Lowell, wrote in the complaint: "This case challenges the unprecedented and unlawful attempt by President Trump to remove Governor Cook—a first in the history of the Board of Governors, if permitted." "It would undermine the Federal Reserve Act... which explicitly requires 'cause' to remove a governor, and allegations concerning personal mortgage applications submitted by Cook prior to her Senate confirmation do not constitute such cause." Cook’s lawsuit initiates a legal battle that could ultimately reach the Supreme Court.
The complaint specifies that the claims against Powell and the Federal Reserve Board are limited solely to their potential legal authority to carry out "President Trump’s purported removal decision" regarding Governor Cook.
