Is this firing really about Trump looking to appoint a different Fed governor?
Federal Reserve Governor Lisa Cook’s attorney, Abbe Lowell, announced on Tuesday he is filing a lawsuit to challenge President Donald Trump’s attempt to fire her on Monday evening.
“President Trump has no authority to remove Federal Reserve Governor Lisa Cook. His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action,” he said in a statement sent to CNN.
The announcement comes hours after Trump posted on social media a letter addressed to Cook informing her that he had sufficient “cause” to fire her. [CNN/Business]
Is it just a racist reaction? Appointed by a Democrat?
Or is he terrified that the Fed will look ever so much more competent than he does? People who do not bear up under comparison sometimes seek to be rid of their competition. Is he so afraid of looking bad that he’d rather cripple a major force in the financial world?
