The Federal Reserve issued its first response Wednesday to President Trump’s attempt to remove Gov. Lisa Cook, stopping short of backing her planned court challenge or directly criticizing the president’s action.
A spokesperson for the Fed said that Cook “has indicated through her personal attorney that she will promptly challenge this action in court” and that the central bank “will abide by any court decision.” The Fed made no mention of recognizing Trump’s removal or any interim governance arrangements.
Trump announced Cook’s removal Monday evening, citing allegations of mortgage fraud. Cook immediately rejected the action, saying through…
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