The Trump administration is seeking to have an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday.
The Associated Press reports the administration’s request is an attempt to exclude Cook from the central bank’s next vote on interest rates, which will take place Sept. 16-17. On Tuesday, a federal judge blocked the administration’s effort to remove Cook after she was accused of mortgage fraud by Bill Pulte, the Federal Housing Finance Agency.
In its request, the administration’s attorneys claim that Cook’s alleged action “indisputably calls into question Cook’s trustworthiness and whether she can be a responsible steward of the interest rates and economy.” However, Cook has not been criminally charged.
Also on Monday, the Senate is scheduled to vote on Stephen Miran, Trump’s economic advisor, to fill a temporary vacancy on the Fed’s board of governors. Miran’s confirmation and the subsequent steps needed to be sworn in will need to be completed before noon on Tuesday, when the Fed’s rate policy meeting begins.
