Trump proposes new initiative, requests court to allow dismissal of Lisa Cook
The U.S. Department of Justice has put forward new arguments to justify why President Donald Trump should be allowed to remove Federal Reserve Board member Lisa Cook on alleged mortgage fraud charges, as Cook challenges her dismissal. The department stated that Cook's claim that her removal was intended to pave the way for interest rate cuts is "groundless."
On Thursday, U.S. government attorneys again urged the judge to reject Cook's request, reinforcing their arguments from an important hearing last week. Previously, Cook had asked the court to prohibit her removal during the trial. Just hours before the filing, reports emerged that the Department of Justice had launched a criminal investigation into Cook.
The government argued that, under U.S. law, the fraud allegations initially raised by Federal Housing Finance Agency Director Bill Pulte were sufficient grounds for Trump to remove Cook. Pulte claimed that Cook appeared to have lied on mortgage documents, falsely declaring two different properties as her primary residence in 2021 to secure more favorable loan terms.
In the documents submitted Thursday, the Department of Justice argued that the judge has no authority to "question" Trump's decision that he had grounds to dismiss Cook. The government also reiterated its denial of Cook's claims, in which she alleged her removal was merely a pretext to allow Trump to take control of the Federal Reserve and push for rate cuts.
"Her only 'evidence' is that the President criticized the Board's policies," the document stated. "But the mere existence of policy disagreements does not mean the President removed Dr. Cook because of those disagreements."
Last week, U.S. District Court Judge Jia Cobb in Washington, D.C., held an emergency hearing but has not yet indicated when a ruling will be made.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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