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‘Trump has no authority’: Lisa Cook’s lawyer vows to sue administration over attempted firing of Fed governor – live | Trump administration


Top congressional Democrats fire back against Trump’s plans to remove Federal Reserve governor

A slew of leading Democratic lawmakers have fired back at Donald Trump’s plans to fire Federal Reserve governor Lisa Cook.

Chuck Schumer, the senate minority leader, accused the president of playing “a dangerous game of Jenga with a key pillar of our economy.” Schumer said that by attempting to remove Cook and install a loyalist, Trump would “shred” the Fed of its independence, and put “every American’s savings and mortgage at risk.”

The ranking member on senate banking committee, Elizabeth Warren, called Trump’s letter announcing Cook’s firing an “authoritarian power grab that blatantly violates the Federal Reserve Act, and must be overturned in court.”

As my colleague, Callum Jones, notes, the supreme court suggested earlier this year that the president did not have power to fire, without cause, governors of the US central bank. The Federal Reserve acts as an independent agency, whose members do not serve at the pleasure of the president.

Meanwhile house minority leader, Hakeem Jeffries, said that Trump was trying to remove Lisa Cook from her position without “a shred of credible evidence that she has done anything wrong”. Jeffries noted Cook’s achievement as the first Black woman to serve on the Federal Reserve board, and added that “to the extent anyone is unfit to serve in a position of responsibility because of deceitful and potentially criminal conduct, it is the current occupant of the White House.”

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Key events

Trump says he’d “like to be asked” to send troops into blue cities

The president just said that Democratic governors should call him after witnessing the administration’s federal takeover of the police and deployment of the National Guard.

“I’d say, ‘President Trump, we need your help’,” he said. “This is going to be the safest place on earth. And we’ll do the same thing in Chicago. But I’d like to be asked, as opposed to just going in and doing it. Because you know, when you go in and do it, then they start screaming, ‘oh, he shouldn’t be here’.”

Trump went on to say that he “would love” for Illinois governor JB Pritzker to call him for help. “We will stop that problem in Chicago in two months, maybe less, two months, we’ll stop it,” he said. The president added that he hoped other Democratic governors and mayors would ask him to send troops to their cities to quell, what he characterizes as, rampant crime.

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