Federal Reserve Governor Lisa Cook’s lawyer says President Donald Trump has no legal basis to dismiss her, rejecting allegations of mortgage fraud against the central bank official.
Cook has denied wrongdoing, while her lawyer, Abbe Lowell, argues that any errors in mortgage documents were inadvertent and do not amount to grounds for removal. The dispute comes after Trump renewed efforts to remove Cook from the Federal Reserve Board.
The case could further test the limits of presidential power and the independence of the US Federal Reserve.
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