Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision

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Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision
Photo: Mark Schiefelbein/AP/TT

Donald Trump has been prevented from firing Federal Reserve member Lisa Cook. Now his administration is demanding that she be relieved of her duties before next week's interest rate decision.

In August, US President Trump stated that he had fired Cook and claimed that she had not handled her mortgage applications in a correct manner.

However, the dismissal was overturned by a court, which ruled that the procedure was not in accordance with the law.

Cook, who took office in 2022, has rejected the allegations against her.

From the court, the message was that the allegations concern claims of events that took place in 2021. Decisive, according to the judge in the case, since dismissal for misconduct can only become relevant if the person in question has committed this during their term of office.

This decision has now been appealed by the Trump administration. In the appeal, Trump's lawyers write that regardless of when the alleged irregularities occurred, "this undoubtedly means that her credibility can be questioned, as well as whether she can act as a responsible manager when it comes to the interest rate and the economy".

The President, who is demanding a lower interest rate, has been in conflict with the Fed for some time, which emphasizes its independence.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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