Donald Trump vs Fed gov: Lisa Cook sues Trump admin; asks to ‘confirm her status’ as board member

Federal Reserve governor Lisa Cook is challenging her dismissal by Donald Trump in court, alleging it threatens the Fed’s independence. Trump cited mortgage fraud allegations as the reason, but Cook claims it’s a pretext to install a loyalist and influence interest rates. The lawsuit argues the firing lacks ’cause’ and could undermine the Fed’s ability to act independently.