By: Chioma Madonna Ndukwu
US Federal Reserve Governor, Lisa Cook, has sued former President Donald Trump after he declared that she had been removed from her position at the central bank.
In documents filed on Thursday, Cook described Trump’s action as “unprecedented and unlawful,” warning that allowing it to stand would set a dangerous precedent in the Federal Reserve’s history.
She is asking the court to affirm her status as a sitting governor and to grant urgent relief that will protect the independence of Fed officials, whose terms are guaranteed by law.
Trump had announced on his Truth Social platform earlier this week that he dismissed Cook, accusing her of making false declarations on mortgage records, including listing two homes — in Michigan and Georgia — as her primary residences.
The alleged discrepancies occurred before her appointment, and Cook has not been charged with any criminal offence.
Observers say Trump’s move intensifies his push to gain influence over the Federal Reserve, raising fresh concerns about the bank’s independence.
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