His efforts to go that way did NOT work with his going after New York Attorney general Tish James, who happens to also be a Black woman, like Lisa Cook….
Cook has , like former Fed Chair Powell, faught to keep her job and keep the Fed independent of Trump’s influence….
So far?
The Federal Courts , up to the Supreme’s HAVE kept Trump ‘s hands off…..
The White House did not immediately respond to a request for comment beyond the text of the memorandum.
Trump last year cited the mortgage allegations as grounds for Cook’s removal, the first presidential attempt to remove a sitting Fed governor in the institution’s history.
Cook sued in response, and the Supreme Court issued an emergency ruling in June blocking Trump from immediately removing Cook from the Federal Reserve without good cause, while the lawsuit over her attempted dismissal played out in the courts. Congress created the Fed to be independent of the president, so it could make decisions — such as raising interest rates — that may be politically unpopular.
Some of the justices were skeptical of the administration’s claims that Cook had committed mortgage fraud during arguments. However, the 5-4 decision written by Chief Justice John G. Roberts Jr. left open the possibility that Cook could still be removed if the president had a valid reason and gave Cook a chance to challenge her firing.
The Federal Reserve Act says a Fed governor can only be removed “for cause,” but the law does not provide a clear road map for how removal should work, Roberts noted.
An opening on the seven-member Fed board would create an opportunity to potentially tip the balance of Republican appointees, replacing a Biden administration governor whose term runs through 2038.
Following the decision, Trump said on social media that he would “take appropriate action immediately” to fire Cook….
….
Cook “unequivocally” denied the allegations in filings with the Supreme Court…..
Note…
Trump has been desperate to get the Fed lower rates….
Last meeting?
They raised them…..
It’s an old observation, going back perhaps to Shakespeare’s Rosalind citing the ancient philosophers, that the very definition of insanity is doing the same thing over and over again, and expecting a different result.
Trump has only so many tricks, but I think this may be payback for his own conviction for tax evasion and mortgage fraud. If only he’d done the decent thing and resign like he expected Joe Biden, Tisha James and Lisa Cook to do…