Trump's Fed Firing Campaign Ignites Amid New Evidence and Upcoming Rate Decision

Breaking News: Trump Continues Push to Oust Lisa Cook Despite New Evidence Just days before the Federal Reserve meeting, President Donald Trump's administration has renewed its request to a federal appeals court to allow him to fire Lisa Cook from the Federal Reserve's board of governors. This move comes despite new evidence that undermines the president's claims against Cook. Timeline: Sunday: The Trump administration filed a response with the U.S. Court of Appeals for the District of Columbia, arguing that Cook's legal arguments were meritless. Saturday: Lawyers for Cook argued in a filing that the Trump administration had not shown sufficient cause to fire her and highlighted the risks to the economy and country if the president were allowed to fire a Fed governor without proper cause. June 25: Federal Reserve Chairman Jerome Powell held an open meeting with Board of Governors member Lisa Cook. Immediate Impact and Response: The latest filing is the latest step in an unprecedented effort by the White House to shape the Federal Reserve's decision-making process. The Trump administration's push to oust Cook has sparked concerns about the potential impact on monetary policy and the economy. Background Context: Lisa Cook was appointed to the Federal Reserve's board of governors in 2021, bringing expertise in macroeconomic analysis and labor economics. Her appointment was seen as a key step in diversifying the Fed's leadership and improving its decision-making process. What Happens Next: The federal appeals court is expected to review the Trump administration's request and Cook's response. The outcome of this case will have significant implications for the Federal Reserve's independence and the country's economic policy. As the Federal Reserve meeting approaches, the stakes are high, and the outcome remains uncertain. *This story is developing. Information compiled from Fortune reporting.*