26.08.202523:57:49UTC+00Trump Challenges Cook’s Tenure, Fed Board at Stake

U.S. President Donald Trump has announced his readiness to engage in a legal battle following his decision to remove Federal Reserve Governor Lisa Cook amid accusations of document falsification related to mortgages. The Federal Reserve, in its first statement on the matter this week, indicated its commitment to honoring any judicial decision regarding Cook’s legal appeal against her termination. According to Reuters, if Cook’s position becomes available, Trump would have the unusual opportunity to appoint a majority to the Federal Reserve's seven-member board—a significant power for a sitting U.S. president. Trump has already put forward White House economist Stephen Miran for a temporary position set to conclude in January and suggested Miran as a potential candidate for Cook’s position. Additionally, The Wall Street Journal mentioned David Malpass, former World Bank President and a close associate of Trump, as another possible appointee.