After President Donald Trump accused Federal Reserve Governor Lisa Cook of making false statements on mortgage applications, Fordham Law Professor Jane Manners—who researches presidential power—explains to The Washington Post whether that is a “historical interpretation of ‘for cause’” removal.
The issue of whether Cook can continue to serve as the case proceeds will likely reach the Supreme Court in the coming weeks, adding another layer of uncertainty. While the justices have often granted Trump broad leeway on executive power during his second term, they have also recognized the Fed’s distinctive independence and statutory protections — safeguards that set it apart from other federal agencies.
The president’s view — that an accusation of mortgage fraud alone justifies removing her — is “an ahistorical interpretation of ‘for cause,’” said Jane Manners, a law professor at Fordham University. “It’s not just a fig leaf for ‘at will’ removal, or removal for any reason or no reason.”