Fordham Law Professor Jane Manners, who researches presidential power, told CNN that Federal Reserve Governor Lisa Cook’s lawsuit against President Donald Trump will be one to watch in the coming weeks.
The 24-page complaint, filed at a federal court in Washington, DC, accuses Trump of using fraud allegations in an attempt to end-run federal law intended to protect her from such interference by the president.
“It is clear from the circumstances surrounding Governor Cook’s purported removal from the Federal Reserve Board that the mortgage allegations against her are pretextual, in order to effectuate her prompt removal and vacate a seat for President Trump to fill and forward his agenda to undermine the independence of the Federal Reserve,” Cook’s attorneys wrote in the lawsuit.
The case has not yet been assigned to a judge in DC.
“This is a big case,” said Jane Manners, an associate professor at Fordham School of Law who researches presidential power. “If we’re going to allow politics to determine the membership of the Fed, what does that mean for the future of our economy?”