President Trump's latest attempt to assert more influence over the economy is headed to court. The attorney for the Federal Reserve Board member whom Trump fired claims the president doesn't have that authority.

The Federal Reserve says it will comply with whatever the courts decide regarding whether the president has the legal authority to fire Fed Board member Lisa Cook.

In a cabinet meeting on Tuesday, President Trump insisted that Cook—one of seven governors on the board—had to be removed over allegations she committed mortgage fraud.

"She seems to have had an infraction, and she can't have an infraction," Trump said. "We need people that are 100% above board, and it doesn't seem like she was."

For months, the president has been pressuring Federal Reserve Chair Jerome Powell to low

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