Trump Firing of Fed’s Cook Could Head to Supreme Court

The Supreme Court again could be asked to rule on the extent of executive power after President Donald Trump announced he was removing Lisa Cook, a Federal Reserve governor, from her position.

Trump on Monday posted a letter to Cook informing her of his decision to remove her from the Fed “for cause.” He previously had called on her to resign over an accusation from one of his officials that she committed mortgage fraud.

CNBC reported that Cook, in a statement, said, “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so.”