The Court of Appeal late on Monday ruled that the Federal Reserve Governor Lisa Cook cannot be expelled by President Donald Trump, while his legal administration claims against Cook continue to play in the court.
The decision supports the minimum court decision, which was concerned with the Ministry of Justice against Cook on charges of defrauding the alleged mortgage of the alleged real estate was not sufficient reasons for removal under the 1913 law that established the Federal Reserve.
The US Court of Appeal for the decision of the County County Department less than 24 hours before the Federal Open Market Committee meeting, as governors are expected to vote in the Federal Reserve, who joined him five of the 12th Federal Reserve Speaker, to reduce interest rates by at least a quarter of a quarter.
Bradley Garcia and Ji Michelle Childz spent the judges of the circle appointed from Biden to the majority, while the judge of the circle appointed from Trump Gregory Katasas.
“In this court, the government does not oppose that it has failed to provide the Cook operation to the minimum of the operation – that is, the prosecution notice against it and a significant opportunity to respond – before it was removed,” Garcia wrote.
The court held an attempt to expel Trump from Cook, “It is possible that it will violate the condition of the procedures due in the fifth amendment.”
Al -Areed vs. Cook speaks to the Trump administration’s second war on the Federal Reserve Bank, the opponents of the president who imagined the federal government, and on independent independent data. Here are five points to help you track everything that happened in this historical issue.
Cook caught an attack on the Federal Reserve
To understand Trump’s anger against Cook, it is important to understand his anger with the federal reserve in general.
During his first administration, According to what was reported, Trump tried to shoot or dispose of fire His Federal Reserve Chairman appointed Jerome Powell to raise interest rates. Since restoring the position, it was the president Play publicly urged To reduce the interest rate in full. Trump attacked Powell during a A rare presidential visit to the Federal Reserve BankThe Federal Reserve was accused of excessive budget on renovations, and He threatened to shoot Powell After the Federal Reserve in late June chose not to reduce interest rates. In his speech at the June FOMC meeting, Powell was martyred, among other things, Uncertainty By Trump’s tarpash as one reason to keep the rates.
It is against this background – from Trump does not get what he wants politically because experts who cite federal economic data were taking their functions – that the Trump administration began to overcome Cook.
Possible steps in the administration are to appeal to the Supreme Court, which may find itself in an unstable scope. While the ruling to allow Trump to remove some of the federal workers’ councils in May, Scotos explicitly recognized the Federal Reserve as a “unique entity, semi -special”, which distinguishes it from other agencies that gave Trump the ability to beat the winners.
Fraud claims on the predatory mortgage as revenge
Bill Polly, Director of the Federal Housing Finance Agency and a strong Trump ally, Publish a criminal complaint on x Cook was accused of claiming to claim two owners in Ann Arbour, Michigan and Atlanta as its main residence in 2021. Home owners may receive more favorable mortgage rates on the housing listed as a basic analgesic, but not always.
Trump launched cooking within days – even Before the start of the Ministry of Justice Investigating the administration’s claims. Cook pledged to respond, and she refused to give up her seat, and A lawsuit against the administration.
There is a lot of error in this, as David Courtz has highlighted from TPM in the morning note. The Trump administration has used to use “allegations of fraud on mortgage” to attack his political opponents, including the New York Prosecutor Littia James (D) and Senator Adam Chef (D-CA).
“Just an unofficial claim – that we now know a liar – is not anywhere near.” “In fact, the claim here was just an excuse-as it became clear from the fact that it has been made repeatedly recently against the members known from the list of Trump’s enemies-Chef and James, for example.”
In addition to the illegitimacy of the administration’s actions, PROPUBLICA report It was published earlier this month, and three of the Trump administration officials have found at least real estate loans for two houses in two different states listed as their initial housing. As it turned out, the father of Polly and the father’s wife also do, a Reuters investigation He found. Because of this report, the town of Michigan canceled the family’s tax exemption and made my parents of Politi on counter -taxes.
“What [the government is] “Doing is an attempt to use the investigation threat as a mechanism to force people to comply,” said Hana Bluch Weiba, a professor of law at Texas A &M who is looking for technology, privacy and democratic rule.
Frankly, the concern that they may be a target of unjustified investigation is in some ways more chilling, because the only way to avoid this is to make sure that you do not anger anyone. “
In fact, it seems that Cook has done everything correctly
I took the Ministry of Justice’s endeavor to demand fraud on the mortgage against Cook on Friday, after the documents reported by Reuters for the first time in reality revealed that Cook had identified her property in Atlanta as a holiday home. Georgia officials even Reuters said“Cook has never announced the house as a basic headquarters for tax purposes there,” Cook also informed the house as a 2021 Federal Vacation to obtain a security permit.
Cook also followed the legal procedures when renting her home in Michigan, tax Officials in that state He said.
Although there are increasing evidence, on the contrary, Bolt doubled the allegations that violate the law in the law Several posts on xAt least one of them included a Shakespeare quote.
Trump’s targeting of the Federal Reserve Study, of course, is unprecedented
The President has never tried to remove the ruler of the Federal Reserve in the history of the central bank, which is more than 100 years. The Federal Reserve Law includes a condition that allows the president only to remove the ruler of the Federal Reserve “for the reason”, which means that serious violations or “Satour in his position“This teacher is supposed to keep the central bank independently and protect its decisions of the exact type of political intervention that Trump is now trying.
“The unprecedented issue is” just a teacher so far in the case of Trump’s chaos. ” “The attempt will fail, so in the end you will only declare as a symbol of a failed attempt to end the Federal Reserve Independence.”
While the administration is targeting Cook, Trump nominated Economic Chamber of Economists Stephen Miran to fill a vacant in the Federal Reserve that Adriana Koger, who was appointed Biden, left her seat early.
Senate members of the Republican Party rushed by confirming Miran on Monday night with a vote 48-47, which is largely divided along the party lines, despite Miran’s intention to stay as a member of the Trump administration and unprecedented conflicts that caused.
Central banks are supposed to use data, not the opinions of elected officials, to make informed decisions on the economy. What happens when the central banks are politicized? In Argentina, the politicized monetary policy helped to launch the country’s inflation rate to a The record for more than 4,923 % in 1989. In the least dramatic but more modern examplePerdating Independence within the central banking system in Türkiye that inflation reaches 85 % in 2022, and now hovering about 35 %.
In its right perspective, the inflation rates related to the epidemic that angered American voters and loses Democrats in the last presidential elections. It reached its climax in about 9 % In 2022.
It is part of Trump’s greatest war on information and independence
Bloch-WEHBA said the Trump administration campaign against the Federal Reserve is part of its largest pattern of Christian information.
“Instead of using data to determine how to judge, the administration processes data, ignores it and even completely disposal,” I wrote In an opinion article in the New York Times.
Trump launched BLS president when he did not like the job report. He has since nominated a person, as a private citizen, who works like a Maga penetration. Upon assuming his post, the Trump administration was cleaned-and continued to purify the data related to climate science, data about race in the federal workforce, data on the intersections of sexual orientation, public health, and crime.
Discounts in the federal government by the Ministry of Governmental efficiency managed by Elon Al -Mask, or Doug, departments and institutional knowledge agencies. The Ministry of Education’s discounts surveyed its ministry responsible for collecting and distributing federal economic statistics.
“The Cook case revolves around the use of information and investigation as a weapon to align the Federal Reserve with Trump’s favorite policy options,” Bluch Weiba told TPM. “When we saw Trump lying before, he usually felt that he was doing it for his personal or reputation. This is different because it is much wider.”