Lawsuit to Test Legal Boundaries of Firing a Fed Governor

Federal Reserve Governor Lisa Cook announced Tuesday that she will file a lawsuit to challenge her recent termination by President Trump. The legal action, confirmed by a statement from her law firm, Lowell & Associates, sets the stage for a legal challenge over the President’s authority to remove a member of the central bank’s board.

President Trump stated on Monday that he had removed Governor Cook from her position. In response, Cook’s lawyer, Abbe David Lowell, issued a statement asserting that the President “has no authority to remove Federal Reserve Governor Lisa Cook.” Lowell added, “His attempt to fire her…lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action.”

The Federal Reserv

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