Trump asks the Supreme Court for an emergency order to remove Lisa Cook from the Fed board

By MARK SHERMAN Associated Press WASHINGTON AP The Trump administration on Thursday petitioned the Supreme Court for an emergency order to remove Lisa Cook from the Federal Reserve s board of governors Related Articles Trump says he ll designate antifa as a terrorist group but offers limited details Harris says Buttigieg was her first choice for running mate but the pairing was too risky Judge blocks Trump administration from straightaway deporting Guatemalan migrant children Federal Reserve shows unexpected unity independence as it weathers Trump s attacks Trump and Starmer sign a tech deal before holding private talks on tariffs and war The Republican administration turned to the high court after an appeals court refused to go along with ousting Cook part of President Donald Trump s effort to reshape the Fed s seven-member governing board and strike a blow at its independence The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed board which was designed to be largely independent from day-to-day politics No president has fired a sitting Fed governor in the agency s -year history Cook who was appointed to the Fed s board by President Joe Biden a Democrat has reported she won t leave her post and won t be bullied by Trump One of her lawyers Abbe Lowell has noted she will continue to carry out her sworn duties as a Senate-confirmed Board Governor Separately Senate Republicans on Monday verified Stephen Miran Trump s nominee to an open spot on the Fed s board FILE Federal Reserve Board of Governors member Lisa Cook right talks with Federal Reserve Chairman Jerome Powell before an open meeting of the Board of Governors at the Federal Reserve June in Washington AP Photo Mark Schiefelbein File Trump sought to fire Cook on Aug but a federal judge ruled last week that the removal ostensibly was illegal and reinstated her to the Fed s board Trump has accused Cook of mortgage fraud because she appeared to claim two properties in Michigan and Georgia as primary residences in July before she joined the board Such indicates can lead to a lower mortgage rate and smaller down payment than if one of them was declared as a rental property or second home Cook has denied any wrongdoing and has not been charged with a crime According to documents obtained by The Associated Press Cook did specify that her Atlanta condo would be a vacation home according to a loan estimate she obtained in May And in a form seeking a prevention clearance she described it as a nd home Both documents appear to undercut the Trump administration s maintains of fraud U S District Judge Jia Cobb ruled that the administration had not satisfied a legal requirement that Fed governors can only be fired for cause which she declared was limited to misconduct while in office Cook did not join the Fed s board until Cobb also held that Trump s firing would have deprived Cook of her due process or legal right to contest the firing By a - vote a panel of the federal appeals court in Washington rejected the administration s request to let Cook s firing proceed Trump s lawyers have argued that even if the conduct occurred before her time as governor her alleged action indisputably calls into question Cook s trustworthiness and whether she can be a responsible steward of the interest rates and market system Trump has previously won orders from the court s conservative majority to fire the presidentially appointed leaders of other independent federal agencies including the National Labor Relations Board and the Federal Contract Commission even as legal fights continue Those firings have been at will with no cause given The Supreme Court has distinguished the Federal Reserve from those other agencies strongly suggesting that Trump can t act against Fed governors without cause