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The court of the temporary suspended the decision of President Donald Trump of dismissing Lisa Cook, director of the Federal Reserve Council of Governors (Fed, the US Central Bank). The injunction was granted on Tuesday (9/9) and prevents, for the moment, that the removal is effective.
Who is Lisa Cook
- Lisa Cook occupies a seat on the Federal Council Reserve since 2022, appointed by then President Joe Biden and reappointed in 2023 for a 14 -year term.
- She was the first black woman to join the collegiate responsible for defining interest rates in the United States.
- With a doctorate in economics from the University of California in Berkeley, Cook has worked as an economic advisor to the Barack Obama government.
- In 2019, he published an article at The New York Times reporting the difficulties of being a woman and black in the economic field and in the public service.
Trump had announced the departure of Cook on August 25, claiming that the economist would have falsified records to gain advantages in mortgage contracts.
Three days later, on August 28, arguing that the president has no authority to withdraw from office and that the measure violates the Federal Reserve Law of 1913. By the norm, Fed directors can only be dismissed by “just cause”, not by accusations it classifies as unfounded.
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In his action, Cook had also asked the court an order to prevent Trump from making the resignation, which has now been answered. The case should advance to higher instances and may reach the Supreme Court.
Last Thursday (4/9), The Wall Street Journal announced that the US Department of Justice had been against Lisa Cook.
