US President Donald Trump has filed an appeal regarding the case involving Federal Reserve Governor Lisa Cook, coinciding with an important interest rate decision.
Trump's Appeal and Arguments
Lawyers representing the Department of Justice on behalf of the President have appealed against a preliminary injunction issued by the district court on Sept. 9 concerning Trump’s decision to remove Cook. The administration argues that removal 'for cause' is 'a capacious standard vested in the President’s discretion' and not subject to judicial review.
New Evidence Supporting Cook
However, new evidence appears to contradict the Trump administration’s mortgage fraud claims. A May 2021 loan summary indicates that Cook’s Atlanta property was used as a vacation home, supporting her position that she properly disclosed it as a second home.
Fed's Rate Decision Approaches
Trump’s appeal comes shortly before a crucial Federal Reserve interest rate decision. The Fed is expected to unanimously cut rates this week for the first time since December 2024. CME futures markets project a 96.4% probability of a 25 basis point cut.
The case involving Lisa Cook raises significant questions about the President's removal powers and the independence of the Federal Reserve, which could impact the reliability of the US dollar.
