Authored by Alexander W. Salter via The Daily Economy,
President Trump has renewed his effort to remove Lisa Cook from the Federal Reserve Board.
Whether he has a legitimate reason to fire her is another matter. The White House announced a three-person "committee of inquiry" to investigate whether Cook made false statements on mortgage applications, and whether that is sufficient cause to remove her from her post. Next month, the committee will question her at a White House hearing.
This is Trump's second attempt. In June, the Supreme Court blocked the first one. As I wrote at the time, the ruling carved out a special exemption for the Fed. That same morning, the justices ruled in Trump v. Slaughter that agency heads who wield executive power answer to the president. Then immediately, they shielded the most powerful agency of all from the impact of that ruling.
But the June decision was narrow: Cook was entitled to notice and an opportunity to respond before removal
READ MORE AT SOURCE »
« Back to The Culture War
