The actions against the Federal Reserve Board members have begun, and the White House has not shown any mercy, with the criminal lawsuit against Lisa Cook being transferred to the Department of Justice.
If successful, it will create history.
Previously, some people thought that no one would dare to target the independent Federal Reserve, obviously underestimating the limits of this administration.
I looked into this case, and it is still centered around her mortgage issues.
Lisa Cook bought a second house in April 2021, with a 15-year loan. Initially, she declared it as a primary residence, which allowed her to enjoy a preferential interest rate.
However, in subsequent documents from 2022 to 2025, this apartment was consistently declared as an investment or rental property.
If it is an investment, a higher down payment and a higher interest rate are required.
The Federal Housing Finance Agency seized on this detail, claiming that she engaged in false reporting and fraud.
In response to this accusation, Lisa Cook said recently that text errors can always occur, and the wording may lead to the misunderstanding that the application forms were incorrect.
Moreover, to protect her job, she also sued the federal government, claiming that the dismissal order was illegal.
Everyone knows that among the seven members of the Federal Reserve Board, only three are appointed by Republicans, so firing Lisa Cook is crucial for gaining numerical dominance.
It is generally believed in the United States that firing her is a test. If it succeeds, it is not ruled out that the same method could be used to target the current Federal Reserve Chair, Powell.
This battle might change history.
For over 100 years, no U.S. president has ever fired a Federal Reserve Board member. Of course, not firing does not mean it cannot be done; the law also states that it is possible if there is just cause.
Original: www.toutiao.com/article/1841780246267027/
Statement: This article represents the views of the author.