'Ridiculous': Trump's 'illegal' firing of Fed governor blasted as an 'autocrat move'

Donald Trump speaking on the phone on Air Force One on August 24, 2018

On Monday, President Donald Trump announced on social media that he was firing Lisa Cook from the Federal Reserve Board of Governors (who was appointed by former President Joe Biden in 2022). But multiple journalists, elected officials, commentators and legal experts are pointing out that Trump is overstepping the bounds of his authority.

In a letter Trump posted to his Truth Social account, he cited the Federal Reserve Act and Article II of the U.S. Constitution to claim that he had the authority to remove Cook from her position "for cause." In order to justify the firing, Trump noted that Federal Housing Finance Authority head Bill Pulte had sent a criminal referral to the Department of Justice for alleged mortgage fraud, relating to two of Cook's mortgage applications.

"At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator," Trump wrote in the letter.

According to CNN, Cook listed a home in Ann Arbor, Michigan as her primary residence in one mortgage document, and then listed a condominium in Atlanta, Georgia as her primary residence on another mortgage document just weeks later. Because a primary residence has certain tax benefits, Cook is being investigated for potential mortgage fraud by listing two primary residences. However, she has yet to be charged with any crime, and even if she were charged, a conviction is unlikely as prosecutors would have to prove actual malice, whereas Cook could argue the listing of two primary residences was a simple oversight.

Trump's claim that he is firing Cook due to the mortgage application issue didn't hold water with several journalists, commentators and others who weighed in on social media. Rep. Seth Magaziner (D-R.I.) tweeted Cook has not been convicted of any crime, and that a president could only fire a Fed governor under "extreme circumstances." Economist Dean Baker questioned the president's authority. noting Trump couldn't fire Cook any more than Baker could fire Cook. Pennsylvania-based political activist Rowan Gehman called Trump's attempted firing of cook "very f------ illegal." Ron Filiipkowski of the liberal group MeidasTouch blasted Trump's attempted firing of cook as an "autocrat move to take over the Fed." And Attorney John Aravosis argued Trump committed a significant error of his own when he wrote in the letter that Cook "may have made false statements on one or more mortgage agreements."

"May have made? Doesn’t sound terribly convincing when you’re hedging," Aravosis wrote.

"Trump cannot legally make up cause to fire a Fed Governor," tweeted Aaron Fritschner, who is the deputy chief of staff for Rep. Don Beyer (D-Va.) "The current Supreme Court held earlier this year that the Fed is a 'quasi-private entity' whose members are protected from political interference, which is plainly what Trump is doing here on a ridiculous pretext."