The Trump Administration Submits New Evidence, Seeks Court Support to Impeach Federal Reserve Board Member Powell

BlockBeats News, September 5th, the U.S. Department of Justice presented new evidence as to why President Trump should be allowed to remove Federal Reserve Board member Lisa Cook, stating that her claim of a "rate cut excuse" is unfounded. Cook has been accused of mortgage fraud and is currently challenging the decision to dismiss her. On Thursday, U.S. government lawyers once again urged the judge to reject Cook's request to prevent her dismissal during the lawsuit, reinforcing the arguments made during last week's hearing.

Hours before this filing, reports emerged that the Department of Justice had launched a criminal investigation into Cook. The U.S. government argues that the fraud charges initially raised by FHFA Director Puert are now a sufficient "reason" under U.S. law for Trump to fire her.

In Thursday's filing, the Department of Justice emphasized that the judge must not "question" Trump's judgment on having a valid reason for dismissal and once again refuted the claim that her dismissal was merely an excuse to take control of the Fed and lower interest rates. "Her sole 'evidence' is that the President criticized the Fed's policy," the filing stated, "but merely having a policy disagreement does not mean the President fired Cook as a result." (FXStreet)