The Trump administration on Thursday asked the Supreme Court for an emergency order to remove Lisa Cook from the Federal Reserve’s board of governors.
The Republican administration turned to the high court after an appeals court refused to go along with ousting Cook, part of President Donald Trump’s effort to reshape the Fed’s seven-member governing board and strike a blow at its independence.The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed board, which was designed to be largely independent from day-to-day politics. No president has fired a sitting Fed governor in the agency’s 112-year history.
The Republican administration turned to the high court after an appeals court refused to go along with ousting Cook, part of President Donald Trump’s effort to reshape the Fed’s seven-member governing board and strike a blow at its independence.The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed board, which was designed to be largely independent from day-to-day politics. No president has fired a sitting Fed governor in the agency’s 112-year history.
Cook, who was appointed to the Fed’s board by President Joe Biden, a Democrat, has said she won’t leave her post and won’t be “bullied” by Trump. One of her lawyers, Abbe Lowell, has said she “will continue to carry out her sworn duties as a Senate-confirmed Board Governor.”
