Trump doesn't have the authority to remove me.I will continue in my position!


Hey GATE family! Let's talk a little about today's news...
There's a hot development in Washington: President Trump announced that he wants to remove Fed Governor Lisa Cook over allegations of “mortgage fraud.” Trump cited Cook's listing of two different homes as her “principal residence” in 2021 as “justification.”

However, Cook said there were no immediate retractions, stating, “You don't have the authority to remove me, and I will not resign. I will continue in my position.”

His attorney, Abbe Lowell, also described this move as “an unauthorized attempt devoid of due process” and stated that they would take all necessary legal action.

This development could be a significant turning point in preserving the independence of the US Federal Reserve (Fed). Experts say this could undermine market confidence and policy predictability in the long run. Lisa Cook is a Fed governor appointed by Biden and took office in 2022. Her term runs until 2038.

Removal of Fed governors requires a strong court order or legally valid reason, such as "for cause." This is a controversial issue.

Such steps could risk the central bank being used as a political tool.

#Trump Removes Fed Governor Cook#

Share your thoughts on this matter with us. Thank you for your time.
TRUMP0.43%
ME1.08%
IN-1.37%
COOK-1.67%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
Asiftahsinvip
· 17h ago
HODL Tight 💪
Reply0
Ybaservip
· 08-27 00:11
2025 GOGOGO 👊
Reply0
Discoveryvip
· 08-26 22:24
Watching Closely 🔍
Reply0
SEVENvip
· 08-26 15:43
HODL Tight 💪
Reply0
CryptoSelfvip
· 08-26 15:43
This is indeed a critical development. Any attempt to undermine the Fed’s independence could create serious uncertainty in the markets. If political pressure increases, the credibility of monetary policy decisions may also come into question. I believe this marks a period that should be closely monitored for both the U.S. economy and global markets
Reply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)