US President Orders Dismissal of Federal Reserve Director Lisa Cook!
US President said on Monday that he had dismissed Federal Reserve Director Lisa Cook, which is an unprecedented first in the 111-year history of the US central bank, representing a major escalation in the conflict between the president and the Federal Reserve.
Lisa Cook has recently been criticized by the US president and his government members for alleged mortgage fraud.
It is not yet clear whether the president has the legal authority to dismiss Cook over these charges. US law states that the president can only remove members of the Federal Reserve Board for cause, but it does not clearly define what constitutes cause.
Cook stated last week that she would not be forced to resign: "I have no intention of being bullied out of office over some issues raised in a single tweet. As a member of the Federal Reserve, I do intend to take any questions about my financial history seriously, so I am gathering accurate information to answer any reasonable questions and provide facts."
Original: www.toutiao.com/article/1841476582159440/
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