President Donald Trump made headlines by dismissing Federal Reserve member Lisa Cook, marking the first such case in U.S. history.
Reasons for Dismissing Lisa Cook
Trump has long emphasized the need for the Fed to lower interest rates, stating that the current economic situation allows for such a move. In a post on Truth Social, he announced his decision to dismiss Lisa Cook, justifying this by claiming that she made false statements in mortgage agreements.
Lisa Cook's Reaction to the Dismissal
Lisa Cook, who was appointed by former President Joe Biden, responded critically to her dismissal. She stated that Trump does not have the legal authority to remove her from office and that she will continue to fulfill her duties in support of the U.S. economy.
Historical Significance of This Move
The dismissal of Lisa Cook is a landmark event, as it gives Trump the potential to secure a majority at the Fed, which may facilitate lowering interest rates going forward. Experts view this step as potentially significant for the country's economic policy.
Trump's dismissal of Lisa Cook opens a new chapter in Federal Reserve history and may significantly impact economic policy in the U.S.
