Appeals court rejects Trump's bid to remove Lisa Cook before rate vote
A federal court ruled Federal Reserve Gov. Lisa Cook can remain in her position amid President Donald Trump’s attempts to fire her. President Trump attempted to remove her shortly before a crucial vote on interest rates, but his efforts were unsuccessful. LiveNOW’s Mike Pache has the latest on what to expect from the Fed tomorrow from Nicole Goodkind before tomorrow’s key vote on interest rates. Goodkind is a senior writer at Barron's, covering the Federal Reserve and U.S. economy."The president lawfully removed Lisa Cook for cause," White House spokesman Kush Desai said in a statement. "The administration will appeal this decision and looks forward to ultimate victory on the issue."
According to the AP, if Trump can replace Cook, he possibly gains a 4-3 majority on the Fed’s governing board. President Trump said he was getting rid of Cook on Aug. 25 over allegations from one of his appointees that she committed mortgage fraud.
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