With this decision, Donald Trump caused the rage of Democrats. There will be a lawsuit
In the Monday post on the Truth Social Platform, Donald Trump announced that he was releasing Lisa Cook, nominated by President Joe Biden. He argued that the investigation of the Department of Justice regarding the allegations of mortgage was “sufficient reason” to remove it from the council.
In the following hours, the democrats definitely condemned this move, refusing to recognize his legality and claiming that It reflects the return to authoritarianism under Trump's rule And that it was an attempt to “manipulate the economy” by the president.
“Any attempt to release Lisa Cook from the position of federal reserve governor is only the latest of the Party Gierek of Donald Trump in DC, aimed at manipulating the economy for his miliary donors at the expense of hard -working Americans” – wrote on the platform X Chuck Schumer, the leader of the Democrats in the Senate, adding that the courts must intervene and stop” this insolent takeover of power. “
“This attempt to release destroys the independence of the Fed and exposes to the risk of savings and mortgage loans of every American,” he wrote.
Trump's attempt to release the nominets of democrats is the last of the President's Am. Pressure on the central bank and forcing the reduction of interest rates. Repeatedly threatened to release Fed Chairman Jerome Powell.
Democrat leader in the House of Representatives, Hakeem Jeffries, condemned the “unfounded attack” on a Cook in a statement published on X. “Dr. Lisa Cook is the first black woman in history who sits on the Federal Reserve Governors. Donald Trump is trying to remove her Without a shadow of credible evidence that she did anything wrong” – Jeffries wrote.
Trump claimed that the “executive rights” granted to him as the president They give him the right to dismiss the Fed governor. But while the Supreme Court previously paved with Trump the way to freely dismiss other representatives of the executive power, it clearly stated that his rights did not cover the federal reserve, “quasi-private entity”.
“No factual or legal grounds”
Cook herself said that Trump “has no permissions” to release her from the position and announced on Monday evening: “I will not give up”.
A lawyer Cook, Abbe Lowell, confirmed on Tuesday that they are planning submit a lawsuit to question Trump's actions. – President Trump does not have the right to remove the Governor of the Federal Reserve Lisa Cook. His attempt to release her, based solely on the reference list, has no factual or legal grounds. We will submit a lawsuit against this illegal action, ”said Lowell.
Jerome Powell, president of the Federal Reserve, and Lisa Cook, governor of the Federal Reserve Council. Washington, June 25, 2025
However, Trump and other administrative officials remain determined to get rid of cook anyway. On Tuesday morning, in the CNBC Squawk Box program, the secretary of trade Howard Lutnick said that Cook should leave the Fed Council.
– The Department of Justice will deal with this matter. But the fact is that if this woman has committed a mortgage fraud, she should show respect for the United States of America, for the federal reserve, where, she claims, she cared about them, and She should go towards the setting sun and hope that the police are not following her Lutnick said. – Mortgage fraud is a serious crime. There is no place for mortgage fraud in America, and certainly not for our leaders.
The federal reserve should “work in isolation from political pressure”
The only Republican in the House of Representatives at Tuesday's session was Richard Hudson, chairman of the National Republican Congress Committee. On the way to the meeting room, he was asked about Trump's efforts to remove Cook from her position. He didn't know what was going on at the time. After leaving the room, he told journalists: – I'm not a lawyer, but the president heads the executive power, so I think he should be able to employ and slow down who he wants.
One of the few Republicans who took the floor in this matter was Don Bacon of Nebrask. Trump's critical of the previous moves of Trump retirement after this term. He challenged the motives of the Cook release by Trump And he said it was at least premature.
“It would be different if she was found guilty, but she has the right to a reliable trial,” he wrote in a text to Politico. “This is his way to take control of the Fed.”
Democrats definitely condemn the president's move. In a statement on the attempt to release Cook by Trump to Senator Mark Warner, a member of the Senate Finance and Banking Committee emphasized that “Fed was designed so that it works in isolation from political pressurethat he could make difficult decisions based on data and long -term condition of the economy, not the whims of one president. “
Federal reserve headquarters in Washington
Warner added that this move is a “outrageous and unprecedented attempt to release a member of the independent federal reserve under the most trivial of unproven pretexts” and “is clearly the latest plan president determined to overthrow institutions that maintained our democracy strong, and our economy with the object of jealousy of the world“.
Other democrats went even further, directly attacking Trump and presenting his administration as authoritarian. Maxine Waters from California, the highest democrat in the Financial Services Committee of the House of Representatives, She warned that this move has no “reasonable cause” and is “incompatible with the constitution”.
“This is what authoritarianism looks like. The attempt to release Dr. Lisa Cook by Donald Trump is gross, A dangerous attack on the independence of the federal reserve (Fed) and part of the ongoing efforts to force the central bank to reduce interest rates and do everything he wants, “Waters wrote.” I will say simply: removal of Dr. Cook from the council without a reasonable reason is unlawful with the constitution and I am convinced that it will not be maintained by the court. “
