A federal judge on Tuesday evening blocked President Trump from firing embattled Federal Reserve Governor Lisa Cook.
US District Court Judge Jia Cobb, a Biden appointee, issued a preliminary injunction blocking President Trump, Fed Chairman Jerome Powell, and the Federal Reserve Board of Governors from firing Lisa Cook as her lawsuit proceeds through the legal system.
Lisa Cook filed a lawsuit against President Trump, the Federal Reserve Board of Governors, and Federal Reserve Chairman Jerome Powell after Trump fired her last month.
“Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” President Trump wrote in a letter to Lisa Cook.
“I have determined that there is sufficient cause to remove you from your position,” Trump added as he cited housing regulator Bill Pulte’s criminal referral on Lisa Cook for mortgage fraud – specifically occupancy fraud.
Lisa Cook apparently owns three properties, and she allegedly committed mortgage fraud on all three properties.
Judge Cobb said the mortgage fraud allegations did not meet the “for cause” standard.
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