2 weeks ago
8
You have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.
Image
The Fed on Tuesday tried to defend its structure and independence in the face of President Trump’s extraordinary late-Monday move to fire a member of its board of governors. The member, Lisa Cook, promised today to sue to block her dismissal, which her lawyer called “illegal” and said the president had “no authority” to order. Here’s the latest.
Trump accused Cook of making false statements in obtaining two mortgages in 2021. One of his aides said last week that he had documents showing she claimed two different homes as her primary residence in order to get lower rates.
Fed experts said that these allegations are serious and should be investigated, but also that they are clearly part of Trump’s push to install loyalists at the central bank. Legal experts said Cook has a strong case for keeping her job until her term expires in 2038, given that she hasn’t been convicted of a crime and that the allegations involve her private conduct, not her work at the Fed. Here's what to know about the legal arguments.
Image
Israel’s cabinet silent on cease-fire proposal
As nationwide protests flared over the war in Gaza, Israel’s security cabinet met today to discuss the country’s new military offensive. It was the ministers’ first opportunity to formally consider the cease-fire proposal that Hamas approved last week, but it was not clear whether the cabinet discussed the proposal.
