Trump resorts to the Supreme to dismiss the governor of the Federal Lisa Cook Reserve | Economy

The Judicial Crusade of the Donald Trump government continues to dismiss the governor of the Federal Reserve, Lisa Cook. After a few days ago an appeals court knocked down the president’s appeal to fire Cook, the US executive returns to the burden and has resorted to this decision before the US Supreme Court. The movement raises the tone of the dispute and can put the independence of the US Central Bank at risk with a legal battle of high draft.

The Department of Justice has asked the judges to lift the order of September 9 of the District Judge, Jia Cobb, which temporarily prevented the Republican President from dismissed Cook, appointed by the former Democratic President Joe Biden. Cobb ruled that Trump’s claims that Cook committed mortgage fraud before assuming the position are not sufficient reason for its dismissal, according to the law that created the Federal Reserve.

“This request implies another case of undue judicial interference with the president’s authority to dismiss; in this case, he interferes with the president’s authority to dismiss members of the Board of Governors of the Federal Reserve with justified cause,” said the Department of Justice in the document presented to the Supreme.

Cook participated in the highly anticipated two -day meeting of the Federal Reserve in Washington last Tuesday and Wednesday, in which the Central Bank decided to cut interest rates in a percentage spot. Cook was among the members of the Fed who voted in favor of the cut announced on Wednesday. The only dissident vote was that of the new Governor Stephen Miran, Trump’s economic guru.

Trump announced Cook’s dismissal last month after the director of the Federal Housing Financing Agency of the USA, Bill Ablicte, accused the economist of presenting homes in Michigan and Georgia as “main residence” when he requested mortgages in 2021, in order to achieve more favorable conditions. Cook has denied having committed mortgage fraud and has remained in office.

The appeal of the Department of Justice occurs after last Monday, the United States Court of Appeals for the Columbia district, denied the government’s request to suspend the Cobb order. The Trump government announced Tuesday that the decision would resort. The Court of Appeals did not address the accusations of mortgage fraud against Cook, nor did it refer to the reports that indicate that the loan documents of Cook’s house in Georgia seem to contradict the affirmation of the brace, demonstrating that she told the financial entity that the house was a holiday house.

“The president legally dismissed Lisa Cook with justified cause. The Government will appeal this decision and hopes to obtain a definitive victory in this matter,” White House spokesman Kush Desai declared Tuesday.

The conservative majority of the Supreme Court has been largely aligned with Trump this year by allowing federal officials to say goodbye, but the Cook’s dispute in the Federal Reserve is a field not yet proven, which could have consequences in the US economy. The Supreme Court defined in a separate ruling to the Federal Reserve as a “quasipreated entity with a unique structure.”

Cook has claimed that Trump’s decision to dismiss it is part of a strategy with political motivations. Judge Cobb also pointed out in her decision that Trump was able to violate Cook’s constitutional right when trying to say goodbye through a publication in social networks without the opportunity to challenge the accusations.