No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, October 1, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Cryptocurrency

Trump removes Fed Governor Lisa Cook in power move on central bank

by TheAdviserMagazine
1 month ago
in Cryptocurrency
Reading Time: 3 mins read
A A
Trump removes Fed Governor Lisa Cook in power move on central bank
Share on FacebookShare on TwitterShare on LInkedIn


Key Takeaways

President Trump used a rare statutory clause to fire Federal Reserve Governor Lisa Cook over alleged misconduct.
Cook is the first sitting Fed governor in modern history to be removed by a president, raising questions about presidential power over the central bank.

Share this article

Follow on Google News

President Donald Trump has dismissed Federal Reserve Governor Lisa Cook from her position under a rarely invoked statute that permits the removal of central bank officials “for cause.”

In a two-page letter dated August 25, Trump said he had determined that Cook’s involvement in alleged mortgage fraud warranted immediate removal.

Cook, a Biden appointee and the first Black woman to serve on the Fed board, has been accused of listing two properties as her primary residence to qualify for better mortgage rates, a move that triggered a criminal referral from the Federal Housing Finance Agency (FHFA). The controversy fueled pressure from President Trump and others for her to step down.

Cook has pushed back on the claims and says she’ll cooperate with any review of her finances, while Fed officials have publicly emphasized their support for her and stressed the need for more factual information before drawing conclusions.

“You signed one document attesting that a property in Michigan would be your primary residence for the next year. Two weeks later, you signed another document for a property in Georgia stating that it would be your primary residence for the next year,” Trump’s letter states. “It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both.”

“The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks. The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve,” Trump wrote.

Cook, who had voiced support for a possible interest rate cut at the Fed’s September meeting, is the first sitting governor in modern history to be fired by a president. Legal experts anticipate challenges to the decision.

“Trump’s reckless firing of Fed Gov Lisa Cook is clearly unlawful,” said Representative Jerry Nadler in a statement. “The Federal Reserve Act permits removal only for cause, serious misconduct, not partisan smears dressed up as ‘referrals’ from a hack like Ed Martin. The Supreme Court reaffirmed this protection just months ago.”

“Trump undermining the Fed for political reasons endangers financial stability and every American’s livelihood, and must be challenged in court immediately,” he added.

The firing adds to a series of board changes at the Fed in recent weeks. Earlier this month, Governor Adriana Kugler resigned to return to Georgetown University, ending a tenure that began in September 2023. Her exit followed mounting White House pressure on the Fed to accelerate rate cuts.

In her place, Trump tapped Stephen Miran, chair of the Council of Economic Advisers and a vocal supporter of Bitcoin, as a temporary addition to the Board. Pending Senate confirmation, Miran is expected to serve through January 2026 and could take part in the Fed’s September meeting.

Share this article

Follow on Google NewsFollow on Google News



Source link

Tags: bankcentralCookFedgovernorLisaMovePowerremovesTrump
ShareTweetShare
Previous Post

Galaxy & Co. Eye Biggest Solana Treasury With $1 Billion Bet

Next Post

Trump declares war on the Fed, setting up a titanic struggle for world’s most important central bank

Related Posts

edit post
Stablecoin Crackdown: European Central Bank Gathers Backing For Joint Issuance Ban

Stablecoin Crackdown: European Central Bank Gathers Backing For Joint Issuance Ban

by TheAdviserMagazine
September 30, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The European Central Bank (ECB) is reportedly...

edit post
SEC Guidance Lets Ripple, Coinbase, BitGo Act as Custodians

SEC Guidance Lets Ripple, Coinbase, BitGo Act as Custodians

by TheAdviserMagazine
September 30, 2025
0

The U.S. Securities and Exchange Commission (SEC) has issued a new guidance. This allows investment advisers to use state-chartered trust...

edit post
what it means for spreads, taxes and flows

what it means for spreads, taxes and flows

by TheAdviserMagazine
September 30, 2025
0

The largest Bitcoin ETF in the world has just revamped its process for moving coins in and out of the...

edit post
Crypto.com Granted Full Set of CFTC Derivatives Licenses for U.S. Expansion

Crypto.com Granted Full Set of CFTC Derivatives Licenses for U.S. Expansion

by TheAdviserMagazine
September 30, 2025
0

Crypto.com has received regulatory approval to offer margined derivatives trading on cryptocurrencies and other asset classes in the United States....

edit post
SOPR At 1 Signals Mareket Equilibrium

SOPR At 1 Signals Mareket Equilibrium

by TheAdviserMagazine
September 30, 2025
0

Bitcoin is once again trading at a critical juncture after a sharp Monday rally pushed the price above the $114,000...

edit post
Crypto.com Partners With Sharps Technology to Manage 0M+ Solana Treasury and Boost Ecosystem Liquidity

Crypto.com Partners With Sharps Technology to Manage $400M+ Solana Treasury and Boost Ecosystem Liquidity

by TheAdviserMagazine
September 30, 2025
0

Crypto.com and Sharps Technology, Inc. (STSS) announced a partnership to bolster Solana ecosystem growth by deploying the platform’s institutional-grade custody...

Next Post
edit post
Trump declares war on the Fed, setting up a titanic struggle for world’s most important central bank

Trump declares war on the Fed, setting up a titanic struggle for world's most important central bank

edit post
Ashish Kacholia-backed Vikran Engineering IPO opens for subscription today; GMP at 21%. Should you bid?

Ashish Kacholia-backed Vikran Engineering IPO opens for subscription today; GMP at 21%. Should you bid?

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
Recruiters caution against using AI to write job postings because it’s been trained on ‘crappy’ descriptions

Recruiters caution against using AI to write job postings because it’s been trained on ‘crappy’ descriptions

0
edit post
6 Things You Can Get for Free at Grocery Stores

6 Things You Can Get for Free at Grocery Stores

0
edit post
Why Time Tracking Software Is a Game-Changer for Growing Accounting Firms in 2025

Why Time Tracking Software Is a Game-Changer for Growing Accounting Firms in 2025

0
edit post
10 Bargain Dividend Growth Stocks In Today’s Overvalued Market

10 Bargain Dividend Growth Stocks In Today’s Overvalued Market

0
edit post
How to Make Small Talk To Grow Your Career and Relationships

How to Make Small Talk To Grow Your Career and Relationships

0
edit post
Former OpenAI and DeepMind researchers raise whopping 0M seed to automate science 

Former OpenAI and DeepMind researchers raise whopping $300M seed to automate science 

0
edit post
Stablecoin Crackdown: European Central Bank Gathers Backing For Joint Issuance Ban

Stablecoin Crackdown: European Central Bank Gathers Backing For Joint Issuance Ban

September 30, 2025
edit post
Gold hovers near record high on US shutdown concerns, Fed rate outlook

Gold hovers near record high on US shutdown concerns, Fed rate outlook

September 30, 2025
edit post
Britain Vs Florida | Armstrong Economics

Britain Vs Florida | Armstrong Economics

September 30, 2025
edit post
Judge denies Merrill TRO request with 9B breakaway

Judge denies Merrill TRO request with $129B breakaway

September 30, 2025
edit post
6 Things You Can Get for Free at Grocery Stores

6 Things You Can Get for Free at Grocery Stores

September 30, 2025
edit post
SEC Guidance Lets Ripple, Coinbase, BitGo Act as Custodians

SEC Guidance Lets Ripple, Coinbase, BitGo Act as Custodians

September 30, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Stablecoin Crackdown: European Central Bank Gathers Backing For Joint Issuance Ban
  • Gold hovers near record high on US shutdown concerns, Fed rate outlook
  • Britain Vs Florida | Armstrong Economics
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.