26 h. ago Federal Reserve Governor Lisa Cook confirms second home status amid Trump fraud claims

Cook sued the Trump administration to block her firing following a row with the US President

Politics

40 h. ago Fed Governor Lisa Cook claimed 2nd residence as 'vacation home,' undercutting Trump fraud claims

Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a “vacation home” in a loan estimate

Politics

4 d. ago Trump suffers blow in bid to fire Federal Reserve governor as judge rules Lisa Cook can stay during fight

Board member’s legal challenge to president’s attempted ouster supported by district court justice

Events

7 d. ago The ‘bizarre’ referral of the US housing finance agency chief to oust Lisa Cook

Former officials and experts say Bill Pulte’s request for inquiry into Fed governor’s alleged fraud is ‘unusual’The head of the Federal Housing Finance Agency embraced a highly unusual process to accuse Lisa Cook, a Federal Reserve governor, of committing mortgage fraud, former officials and experts have said. One former high-ranking official called the director’s involvement in a criminal referral “bizarre”.William Pulte, a businessman and major GOP donor whom Donald Trump appointed to head the powerful housing agency earlier this year, has accused Cook of committing mortgage fraud by misrepresenting her homes as a primary residence, potentially securing more favorable mortgage rates. The justice department formally opened a criminal investigation into whether Cook committed fraud and has issued subpoenas related to the transaction. Cook’s lawyers have called the discrepancies a “clerical error” and she has denied any wrongdoing. Continue reading...

Politics

9 d. ago US justice department opens criminal inquiry into Fed governor Lisa Cook

Officials to investigate claims of mortgage fraud against Cook, who has refused to accept firing by Donald TrumpThe US justice department has initiated a criminal investigation into mortgage fraud claims against Federal Reserve governor Lisa Cook as a lawsuit she filed against Donald Trump over her firing makes its way through court.Lawyers with the justice department have issued subpoenas for the investigation, according to the Wall Street Journal, who first reported the investigation, which has since been confirmed by multiple news publications. Continue reading...

Society

9 d. ago US justice department reportedly opens criminal inquiry into Fed governor Lisa Cook

Officials to investigate claims of mortgage fraud against Cook, who has refused to accept firing by Donald TrumpThe US justice department has initiated a criminal investigation into mortgage fraud claims against Federal Reserve governor Lisa Cook, according to new reports, as a lawsuit she filed against Donald Trump over her firing makes its way through court.Lawyers with the justice department have issued subpoenas for the investigation, according to the Wall Street Journal. Continue reading...

Society

9 d. ago Justice Department probes mortgage fraud claims against Lisa Cook of Federal Reserve, AP source says

The Justice Department has issued subpoenas as part of an investigation into mortgage fraud allegations against Lisa Cook, who is fighting a Trump administration effort to remove her from her role as a Federal Reserve Governor

Society

2 w. ago The Guardian view on Trump and the Fed: independence is no substitute for accountability | Editorial

The US president’s move against Lisa Cook shows his despotic bent, but the Fed was never democracy’s guardian. It’s time to rethink who really controls moneyDonald Trump’s attempt to sack the Federal Reserve governor, Lisa Cook, is the familiar authoritarian trick of bending institutions to serve the leader’s immediate ends. The widespread condemnation is deserved. This is not some daring experiment in popular control of monetary policy. Yet what should follow censure is reflection. For the furore over Ms Cook has revealed a peculiar reflex: to defend the Fed’s independence as though it were synonymous with democracy itself.But is independence of the Fed, or central banks generally, really that? Eric Levitz at Vox thinks so, or at least that it is close enough. He argues that Congress sets the Fed’s objectives; independence applies only to the means. Without independence, politicians would be free to game rates for votes – as Richard Nixon did in 1972, leaning on the ...

Politics

2 w. ago Lawyer for Federal Reserve governor targeted by Trump says firing does ‘irreparable harm’ – US politics live

Lisa Cook’s attorney argues she should be allowed to carry on in her role until court makes ruling White House picks Kennedy deputy to replace fired CDC chiefA visit to Taiwan by two US senators has drawn criticism from China, which claims the island as its own and objects to any contact between officials of the two sides.The chair of the Senate armed services committee, Roger Wicker, and the Nebraska senator Deb Fischer arrived in Taipei on Friday for a series of high-level meetings with senior Taiwanese leaders to discuss US-Taiwan relations, regional security, trade and investment, according to the American Institute in Taiwan, Washington’s de facto embassy in lieu of formal diplomatic relations with the self-governing island democracy.A thriving democracy is never fully assured and we’re here to talk to our friends and allies in Taiwan about what we’re doing to enhance worldwide peace. Continue reading...

Politics

2 w. ago Lisa Cook, the Federal Reserve governor battling Donald Trump

Economist’s legal showdown with the president will have sweeping implications for the US central bank

Politics

2 w. ago Federal Reserve Governor Lisa Cook sues Trump after he ‘fired’ her

Trump’s unprecedented move against the central bank's leadership is an effort to ‘undermine the independence of the Federal Reserve’, Cook’s lawyer said

Politics

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

Federal Reserve governor’s lawyer says Trump administration’s effort to fire her ‘lacks any factual or legal basis’Lisa Cook to sue Trump over attempt to fire herLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Society

2 w. ago Federal Reserve governor Lisa Cook to sue Trump administration over its attempt to fire her

Cook’s attorney said the president has ‘no authority’ and ‘lacks any factual or legal basis’ to fire the Fed governorThe Federal Reserve governor Lisa Cook will sue the Trump administration over its bid to fire her over unconfirmed allegations of mortgage fraud, her attorney has said.Donald Trump announced he was firing Cook on Monday night, in an extraordinary move that marks the latest escalation in the US president’s attack on the central bank’s independence. Continue reading...

Politics

2 w. ago Top Democrats fire back against Trump’s plan to remove Federal Reserve governor as Lisa Cook vows to not resign – live

Lisa Cook says ‘no cause exists under the law’ for Trump to remove her; president is accused of ‘cobbling together’ mortgage fraud allegations against herTrump moves to fire Fed governor Lisa CookLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Politics

2 w. ago Trump fires Federal Reserve governor Lisa Cook — she says she’s not going anywhere

Cook rejects Trump’s allegations that she may have falsified records for her mortgage and vowed to push back against the president’s ‘attempted illegal action’

Politics

2 w. ago ‘No cause exists under the law’: Federal Reserve governor Lisa Cook responds to Trump’s move to fire her – live

Lisa Cook says she will not resign after Trump accused of ‘cobbling together’ mortgage fraud allegations against herTrump moves to fire Fed governor Lisa CookLev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment. Continue reading...

Society

2 w. ago Donald Trump 'sacks' Federal Reserve Governor Lisa Cook in never

Donald Trump has launched another move to exert his own influence over America's institutions by announcing the sacking of Federal Reserve governor Lisa Cook - a first in its 111-year history

Politics

2 w. ago Trump moves to fire Fed governor Lisa Cook in escalating attack on bank’s independence

Departure of Cook, first Black woman to sit on central bank’s board, would allow US president to put forward a replacementDonald Trump has said he is firing the Federal Reserve governor, Lisa Cook, over allegations she committed mortgage fraud, in an extraordinary move that marks the latest escalation in the US president’s attack on the central bank’s independence.Trump wrote to Cook on Monday, telling her that he was removing her from her position “effective immediately”, based on the allegation from one of his allies that she had obtained a mortgage on a second home she incorrectly described as her primary residence. Continue reading...

Events

2 w. ago Federal Reserve governor 'fired' by Trump issues scathing rebuke claiming president has no authority over central bank

Cook's sacking was the first in the 111-year history of the Federal Reserve, as Trump all but guaranteed a replacement that would back the president's calls to slash interest rates.

Politics

2 w. ago Trump follows through on threat to fire Federal Reserve governor in ongoing feud with central bank

The move is a sharp escalation in his battle to exert greater control over what has long been considered an institution independent from day-to-day politics.

Events