Fed Governor Cook Asks Appeals Court to Reject White House’s Bid to Remove Her From Fed Board

Federal Reserve Governor Lisa Cook is asking a U.S. appeals court to reject the Trump administration’s latest attempt to remove her from her post. This comes ahead of the central bank’s next vote on interest rates. On Saturday, Cook’s attorneys filed a motion asking the court to reject the Trump administration’s emergency request for a stay of a lower court ruling that would allow President Trump to remove her. They argue that firing a Fed governor without cause risks the economy and Fed independence. Trump accuses Cook of mortgage fraud before she joined the board, which she denies. The court has given the Trump administration until Sunday to respond.