Attorney for Federal Reserve Governor Lisa Cook says they're planning to sue Trump [View all]

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Kyle Griffin @kylegriffin1 44m
Breaking on MSNBC: An attorney for Federal Reserve Governor Lisa Cook says they're planning to sue Trump after he threatened to fire her — alleging he "has no authority" to do so.

"President Trump has no authority to remove Federal Reserve Governor Lisa Cook," her lawyer Abbe Lowell said in a statement. "His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action."
https://www.yahoo.com/news/videos/fed-gov-cook-sue-over-153000852.html

___Cook’s term was not set to expire until 2038. The central bank declined to comment. Her lawyer, Abbe Lowell, pledged to take “whatever actions are needed to prevent” the president’s “illegal action.”

“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook herself said in a statement released by her attorney. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”

In challenging the removal order, Cook could immediately seek an injunction reinstating her while litigation moves forward. No charges have been filed against her, though a Justice Department official last week signaled possible plans to investigate her. The allegations also relate to actions taken before Cook joined the Fed, which some legal experts say could undercut Trump’s ability to assert that he has cause to fire her.

Earlier this year, the Supreme Court sided with Trump in pushing out members from their posts in two other independent agencies while additional legal battles played out. In those cases, Trump said he was firing the appointees without citing any cause.

But in one of the unsigned opinions, in May, the Supreme Court majority said their decision would not "implicate the constitutionality of for-cause removal protections" of Federal Reserve members, without explaining what they meant.

https://news.bloomberglaw.com/litigation/trump-removes-fed-governor-lisa-cook-effective-immediately

Chuck Schumer @SenSchumer
Any attempt to fire Lisa Cook from her position of Governor at the Federal Reserve is just the latest in Donald Trump’s DC partisan games to rig the economy for his billionaire donors at the expense of hardworking Americans.

This attempted firing shreds the independence of the Fed and puts every American’s savings and mortgage at risk.

Donald Trump is playing a dangerous game of Jenga with a key pillar of our economy.

This brazen power grab must be stopped by the courts before Trump does permanent damage to national, state, and local economies.

And if the economy comes crashing down, if families lose their savings and Main Street pays the price, Donald Trump will own every ounce of the wreckage and devastation families feel.
12:28 AM · Aug 26, 2025