Lisa Cook argues firing would transform Fed into 'body subservient to the President’s will'
Federal Reserve Board of Governors member Lisa Cook implored the Supreme Court to keep her in her post while her lawsuit over President Trump's attempt to fire her moves forward, contending that her removal would strip the central bank of its longstanding autonomy.
Her lawyers told the justices Thursday that siding with the Trump administration would "eviscerate" the Fed's independence from the political whims of the White House, claiming its insulation from such control is what has allowed America's markets and economy to flourish.
Lower courts have so far kept Cook in her role, but the Justice Department has asked the high court to put Trump's firing over mortgage fraud allegations into effect.
"Granting that relief would dramatically alter the status quo, ignore centuries of history, and transform the Federal Reserve........
© The Hill
