Fed Governor Lisa Cook disclosed on Thursday that her legal battle against President Trump’s attempt to fire her cost $1.2 million.
Trump moved to remove Cook from the central bank’s board last year following allegations involving mortgage fraud. Filings reveal that her massive legal and security expenses were covered by two non-profit organizations rather than personal funds. The case centers on whether the president has the authority to fire a Fed official before their term expires or if the board is legally independent.
A Supreme Court ruling expected by the end of June will determine if the Fed remains protected from direct presidential control.
.Here are the top political news stories for today.
Join in on more popular conversations.