Trump Seeks Supreme Court Ruling on Federal Reserve Member's Fate

The Trump administration wants the Supreme Court to make a quick decision so that Lisa Cook can be fired as a member of the US central bank Federal Reserve.

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Trump Seeks Supreme Court Ruling on Federal Reserve Member's Fate
Photo: Mark Schiefelbein/AP/TT

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In the week, an appellate court decided that Lisa Cook would be allowed to continue in her position, at least temporarily.

The ruling was the second setback for President Donald Trump in his attempts to get rid of Lisa Cook from the post. Previously, another court paused his decision to fire her.

On Thursday, the Trump administration turned to the Supreme Court and requested a quick decision in the matter.

Trump has accused Lisa Cook of not handling her mortgage applications correctly.

The President wants to see rapid cuts in the interest rate, an attitude not shared by a majority in the Fed.

Recently, Stephen Miran took office as a Fed member. He is an economic advisor in the White House, a post he is on leave from.

At Wednesday's interest rate announcement, it was revealed that all members except Stephen Miran voted for a cut in the interest rate by 0.25 percentage points. He instead wanted a double cut.

Lisa Cook was nominated for her position in 2022 by then President Joe Biden.

She has previously said that she will not leave her post and will not be "bullied" by Trump.

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

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