US President Donald Trump said he would immediately remove Lisa Cook, a federal reserve, in her position as a big escalation in a battle with the US central bank.
He said that there was a “good reason” that Cook believed that he had made a false statement about the mortgage contract.
Cook said that Trump has no authority to dismiss her and will not resign.
It is unprecedented for the president to dismiss the leadership of the central bank, and that Trump does not lower the interest rate as the pressure on the Fed, especially Jerome Powell, increases.
Trump’s decision is also likely to raise legal questions, and experts suggest that the White House has enough reason to potentially dismiss her in court.
President Cook said, “President Trump tried to dismiss me for the cause when there was no cause.
“I will not resign. I will continue to be obliged to help the US economy as I have done since 2022,” she added.
Cook’s lawyer, Abbe David Lowell, said, “We will take necessary measures to prevent illegal measures.
The Federal Reserve Bank did not mention the president’s announcement until late through the social media platform Truth Social.
He posted a letter to Cook an immediate decision to remove her from the bank’s governor.
Trump also recurred the possibility of firing Powell.
Cook is one of seven of the Fed Governor’s board and is one of the first African -American women who played this role.
According to Trump’s letter, Cook signed a document that proves that the property in Michigan will be the main residence of next year.
“Two weeks later, you stated that you would be the main residence of next year in another document on Georgia’s real estate,” the president said.
“I can’t imagine that I didn’t know your first dedication when I made the second,” he wrote.
The president called for a resignation of a mortgage fraud last week by Bill Pulte, a trump ally, a housing financial regulatory agency, a public letter of public letter to PAM Bondi.
The housing financial regulatory agency called this letter “a crime medical treatment” and urged the Ministry of Justice to investigate. It is not clear whether the investigation has begun.
Cook said in a statement last week about the media’s charges, and this problem originated from the application of a mortgage loan made four years ago before joining the central bank.
“I don’t have the intention of retreating from my position because of some questions raised in tweets,” she said.
“I’m a member of the Federal Reserve, so I’m trying to get serious questions about financial records, so I’m collecting accurate information to answer legitimate questions and provide facts.”
If Cook or the Fed resisted the decision to deport her, experts suggested that it could cause a stand -off between the central bank and the White House. The Fed gained independence from the US government in 1951.
Trump expressed the increase in hostility in Powell and called him “Numbskull” and “stubborn stupid.”
But last week, POWELL raised the expectation that it would lower interest rates in September. In an interview with central bankers gathered in Jackson Hall, Wyoming, he insisted that the influence of Trump’s tariffs could be temporarily proven.
As the US dollar weakened on Tuesday, Asia’s major global currencies, investors were weakened due to the fact that the replacement of COOK would promote more interest rate cuts.
“() The main question of the market is if Trump succeeds in replacing Cook, how can the Fed can reconstruct the composition of the Fed, and how can it affect the market awareness of US investment?
Shoki Omori, the chief strategist of Mizuho, Bank of Japan, has emphasized concerns about Trump’s pressure in Powell in recent weeks.
“PoWELL seems to be counterattack, but the next person can hear what the White House wants. It doesn’t look good.”
