Donald Trump asks higher court to wave off order allowing Cook to remain at Fed

Joshua Gibson FXStreet

United States (US) President Donald Trump and his administration have formally asked the federal appeals court to pause a federal order that would allow Lisa Cook to remain at her post at the Federal Reserve (Fed) pending an official probe into accusations of mortgage fraud.

According to the Trump administration, potential mortgage fraud is so damaging to the Fed's credibility that Lisa Cook must be removed from the Fed's Board of Governors immediately and should not be allowed to remain in her position without waiting for the results of an official inquiry.

Do it by the book

Donald Trump, a sitting President with 34 federal indictments and 34 guilty verdicts for falsifying business records and was given special consideration from the Republican-majority Congress to remain in his position despite being found officially guilty by the US court system, is springing into action to make sure the Fed remains entirely above-board in all of its business matters.

Lisa Cook has been accused of falsely listing a rented property as her primary residence, in addition to another address. Mistakenly listing multiple primary residences is typically resolved by the Internal Revenue Service (IRS) and usually involves a tax adjustment, as well as some fines.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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