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Posted on 08/26/2025 8:54:13 AM PDT by Red Badger
Key Points
Federal Reserve Board Governor Lisa Cook will file a lawsuit challenging her removal by President Donald Trump, her attorney said.
“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” the lawyer, Abbe Lowell, said in a statement.
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Federal Reserve Board Governor Lisa Cook will file a lawsuit challenging her removal by President Donald Trump, her attorney said Tuesday.
“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” the lawyer, Abbe Lowell, said in a statement, a day after Trump cited allegations of mortgage fraud by Cook in firing her.
“His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis,” Lowell said.
“We will be filing a lawsuit challenging this illegal action.”
The White House and the Justice Department did not immediately respond to CNBC’s requests for comment on Lowell’s statement.
The Federal Reserve’s media office has not commented on Trump’s action, nor replied to CNBC’s question about whether Cook is working at her office on Tuesday or remotely.
If Cook does sue, the case could end up being decided by the Supreme Court.
The Federal Reserve Act of 1913 says that a president can fire a member of the Federal Reserve Board only “for cause.”
That has long been understood to mean malfeasance or dereliction of duty while a board member./
The Justice Department last week opened a criminal investigation of Cook after she was accused of making false statements on home mortgage applications by Federal Housing Finance Agency Bill Pulte.
Pulte pointed to documents that Cook allegedly signed for properties in Michigan and Georgia claiming they were each her primary residence, which he claimed was done “in order to potentially secure lower interest rates and more favorable loan terms.”
The documents would have been signed before Cook joined the Fed.
Trump cited those allegations on Monday night in a letter to Cook notifying her of her removal.
Cook responded Monday, saying in a statement, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”
“I will not resign,” she said. “I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
— CNBC’s Kevin Breuninger contributed to this story.
This is breaking news. Please refresh for updates.
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Who’s giving her the money to sue ?
Damn crook. Me or anyone else in here would’ve already been issued their Miranda rights if you committed mortgage fraud.
Probably the taxpayers.
😂💰. She “worked” for the fed. Besides, I thought she said evil dictator didn’t have the authority to fire her. She is bipoc after all.
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Of course she will. Nothing is ever settled until it is settled the way the left wants it settled.
In other words, we have always been at war with Leftarea.
If the Federal Reserve isn't part of the legislative nor judicial branches, then there are only two options left. If the Federal Reserve is part of the executive branch, then Trump has the authority to fire her.
But if the federal reserve isn't part of the executive branch either, then is the federal reserve's existence constitutional? So IMHO either Trump has the authority to fire her, or we should abolish the Federal Reserve. Either way, she should be out of a job.
Abbe Lowell - Enema of America - Total Scumbag
Bipoc?...oh, jeez...bipolar of color?
That question my finally be answered.
She took the bait....................
And lose like all the others that sued so far. Only the attorneys get rich of jousting with this windmill.
Black, Indigenous, Person Of Color....🤔🙄
She’s never worked at a bank.
Maybe she didn’t know you can’t claim two primary residences for mortgage purposes.
Seriously. Her entire career has been one long DEI hayride.
If she's all that talented, she could find a better job with better pay in ten minutes.
Does she have a job for life? Can anyone fire her?
If she’s into mortgage fraud then there’s a good chance she into over scams as well
Deep State’s version of Wolfram & Hart.
It’s not about money, it’s about power......................
“...The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power, pure power. What pure power means you will understand presently. We are different from the oligarchies of the past in that we know what we are doing. All the others, even those who resembled ourselves, were cowards and hypocrites. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended, perhaps they even believed, that they had seized power unwillingly and for a limited time, and that just around the corner there lay a paradise where human beings would be free and equal. We are not like that. We know that no one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now you begin to understand me.”
― George Orwell, 1984
“””Does she have a job for life? Can anyone fire her?””””””
Biden appointed her. Trump can un-appoint her.
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