WASHINGTON: Federal Reserve Governor Lisa Cook has detailed her opposition to President Donald Trump’s attempt to remove her from office.
Cook stated in a court filing that mortgage information discrepancies were fully disclosed during her 2022 confirmation process.
She listed mortgages on three properties in forms submitted to both the White House and US Senate during her vetting.
Any inconsistencies were known at the time of her confirmation and cannot justify removal now according to her legal team.
Trump and Federal Housing Finance Agency Director William Pulte have accused her of mortgage fraud.
They claim she listed all three properties as primary residences to potentially secure lower interest rates.
Cook has filed a lawsuit seeking to block what would be an unprecedented removal of a Fed governor.
Tuesday’s filing elaborated on arguments first presented in court last week regarding her lawsuit.
Cook listed a Michigan property as primary residence and a Georgia home as a second home on background forms.
She described both homes as present residences and a Massachusetts property as both residence and rental on another questionnaire.
Her lawyer Abbe Lowell stated senators or White House advisors could have inquired about any apparent inconsistencies during confirmation.
The White House and Justice Department did not immediately respond to requests for comment.
Cook has asked US District Judge Jia Cobb to temporarily block her removal pending further litigation.
She maintains Trump lacks legal authority for removal and that fraud allegations serve as pretext.
Cobb held a hearing where Trump’s administration lawyer argued presidential powers include removing Fed governors for cause.
Trump has consistently criticized the Fed for not cutting interest rates more aggressively during his administrations.
He has berated Fed Chair Jerome Powell though stopped threatening removal before Powell’s term ends in May.
The Fed cut rates three times in 2024 but paused since December due to inflation concerns from Trump’s trade policies.
Cook voted with Powell and the majority on all recent policy decisions according to meeting records.
The central bank is widely expected to cut rates by a quarter percentage point at its September meeting.
Trump has demanded substantially more aggressive borrowing cost reductions to stimulate economic growth. – Reuters