A bipartisan collection of former Federal Reserve chairpersons, Treasury Secretaries and White House economists have filed an amicus brief with the US Supreme Court asking that Lisa Cook remain as a Federal Reserve governor while she fights the White House’s effort to oust her.
The Associated Press reports the former officials are urging the court to reject President Trump’s efforts to remove Cook based on accusations of mortgage fraud raised against her by Bill Pulte, the director of the Federal Housing Finance Agency, until her ongoing lawsuit against the president is heard in court. Cook has sued Trump to stop his efforts to force her from office.
“Maintaining the status quo while the lawfulness of the termination is adjudicated, in contrast, would serve the public’s interest by safeguarding the independence and stability of the system that governs monetary policy in this country,” the officials stated.
The submitted brief warned that allowing Trump to fire Cook under the current circumstances “would expose the Federal Reserve to political influences, thereby eroding public confidence in the Fed’s independence and jeopardizing the credibility and efficacy of US monetary policy.” Cook has not been indicted and has denied Pulte’s accusations.
The signatories to the brief included former Fed Chairpersons Alan Greenspan, Ben Bernanke and Janet Yellen; former Treasury Secretaries Robert Rubin, Larry Summers, Hank Paulson, Timothy Geithner and Jack Lew; and five former chairs of the White House Council of Economic Advisers: Glenn Hubbard, Christina Romer, Jason Furman, Cecilia Rouse and Jared Bernstein. Also signing on were former Fed board member Dan Tarullo and former Senate Banking Committee Chairman Phil Gramm (R-TX).
A pretty significant list of well known and influential people here that have signed this letter to let the judicial process play out in the courts.
What is missing here is why Lisa Cook was in court in the first place. ?
So according to democrats the law simply doesn’t apply to them.
Got it.