Federal Reserve Governor Cook's lawsuit also names Fed Chairman Powell as a defendant

ChainCatcher news, according to Jinshi Data reports, on Thursday, Federal Reserve Governor Cook filed a lawsuit in the U.S. District Court for the District of Columbia, attempting to block President Trump from removing her from office. The lawsuit also names Federal Reserve Chairman Powell and the Board of Governors of the Federal Reserve as defendants. Trump stated on Monday that he intended to remove Cook because she was accused of fraudulent behavior in mortgage applications related to two properties under her name.

Cook's attorney, Abbe Lowell, wrote in the complaint: "This case challenges President Trump's unprecedented and illegal attempt to remove Governor Cook from office. If this action is allowed to occur, it would be the first time in the history of the Federal Reserve Board." "This would undermine the Federal Reserve Act… which clearly requires that the removal of a governor must be for 'cause,' and the allegations regarding Cook's private mortgage applications submitted prior to her Senate confirmation do not constitute cause." Cook's lawsuit initiates a legal battle that could ultimately reach the Supreme Court.

The complaint states that the lawsuit against Powell and the Federal Reserve Board is limited to their potential legal authority to "execute President Trump's alleged decision to remove Governor Cook."