Fed governor Lisa Cook vows not tostep down, saying Trump lacks authority to fire her
Financial markets worldwide have been rattled by President Donald Trump's announcement that he's firing Federal Reserve Governor Lisa Cook, an unprecedented move and sharp escalation in his effort to exert greater control over what has long been considered an institution independent from day-to-day politics. But Cook said she's not leaving: “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” she said in an emailed statement. “I will not resign.” Analysis by FRANCE 24 international affairs commentator, Douglas Herbert.
Financial markets worldwide have been rattled by President Donald Trump's announcement that he's firing Federal Reserve Governor Lisa Cook, an unprecedented move and sharp escalation in his effort to exert greater control over what has long been considered an institution independent from day-to-day politics. But Cook said she's not leaving: “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” she said in an emailed statement. “I will not resign.” Analysis by FRANCE 24 international affairs commentator, Douglas Herbert.
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