Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a "vacation home" in a loan estimate, a characterization that could undermine claims by the Trump administration that she committed mortgage fraud.
President Donald Trump has sought to fire Cook "for cause," relying on allegations that Cook claimed both the condo and another property as her primary residence simultaneously, as he looks to reshape the central bank to orchestrate a steep cut to interest rates. Documents obtained by The Associated Press also showed that on a second form submitted by Cook to gain a security clearance, she described the property as a "second home."
Well this didn't age well huh?
A federal appeals court on Monday upheld a lower judge’s ruling temporarily blocking the Trump administration from firing Lisa Cook, a member of the Federal Reserve’s Board of Governors.
The two-to-one decision today in the U.S. Court of Appeals for the District of Columbia rejected an emergency request from the Trump administration to block a lower court’s ruling that had paused the firing.
The decision means Cook will be able to participate in a meeting this week of the central bank, where officials will weigh whether to cut interest rates, a long-time priority of the Trump administration that has prompted the president to attack the independent financial body.
