Trump administration moves forward with push to fire Fed governor Lisa Cook

By Auzinea Bacon, CNN

(CNN) — The Trump administration on Sunday renewed its request to a federal appeals court to fire Lisa Cook, a Federal Reserve governor who has faced political scrutiny in recent weeks.

The move comes ahead of the independent central bank’s vote on interest rates this week. President Donald Trump has repeatedly called for the Fed to slash interest rates while publicly targeting Fed chair Jerome Powell.

The Trump administration filed its request to the US Court of Appeals for the District of Columbia ahead of Sunday’s 3 p.m. ET deadline.

The Trump administration called Cook’s claims to stay on the board “meritless,” adding that concerns over whether Cook misrepresented her finances pose concerns as to “whether Cook can be trusted to act with forthrightness, care, and disinterest in managing the U.S. money supply.”

Lowell & Associates, which is representing Cook, did not respond to CNN’s request for comment

On Saturday, Cook’s legal team requested that the court reject Trump’s bid to remove her from the board because the administration did not show sufficient cause to fire her. Cook’s lawyers also argued that allowing her to be fired threatens the bank’s independence and the nation’s economic stability.

“As economists have warned, everyday Americans ultimately would pay the price: higher prices ‘via higher inflation and higher interest rates’ that result ‘when central bank independence is lost,’” Cook’s lawyers said.

Cook has been under fire for accusations of mortgage fraud, which were launched by Federal Housing Finance Agency Director Bill Pulte. Trump said on August 25 that he would remove Cook from her position because of the accusation.

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