Lisa Cook suits Trump with the intensification of federal drama before decisive September FOMC star-news.press/wp

The ruler of the Federal Reserve, Lisa Cook, filed a lawsuit against US President Donald Trump for trying to remove her from her position in the Federal Reserve for the investigation of fraud in mortgage. This comes before FOMC’s decisive meeting in September, where the federal reserve is likely to reduce prices, which is the ups of the encryption market.

Lisa Cook pulls Trump to the court because of its removal

The court file shows that the ruler of the Federal Reserve has filed a lawsuit against the president, and in an effort to obtain immediate and judicial reduction to confirm its status as a member of the Federal Reserve. It also joined the Federal Conservatives and Jerome Powell as a party in the lawsuit, because it looks forward to challenging the president’s authority to shoot it.

Coingape, Lisa Cook’s lawyer, Abe Lille, said earlier that he would file a lawsuit that challenges its removal by the president. Luel claimed that the president’s action was illegal, as there was no reality or legal basis for that, despite the claim of fraud against the mortgage against the Federal Reserve Governor.

The Federal Reserve Law (FRA) states that the president cannot only remove the Federal Reserve Governor from a “case”, and this is the basis of the Lisa Cook argument because it seeks a judicial order to prevent Trump to remove.

The Federal Reserve’s lawyer argues that the “unprecedented claim” over the requests of the private mortgage, which was submitted by the Federal Reserve Governor before assuming his post, is not a sufficient reason for the president to remove it. Moreover, Cook and the lawyers have also argued that Trump’s actions violate her rights to the fifth amendment to the rights of due procedures and their legal right to note and a listening session under FRA.

Judge Jia Cope set a preliminary hearing of the case on Friday. This issue is historical because it can benefit from the independence or independence of the Federal Reserve Bank, especially given that this is the first time that the President of the United States has tried to launch the ruler of the Federal Reserve.

Trump is looking to force the price cuts

It should be noted that Trump’s move to shoot Lisa Cook is seen as another attempt to pressure the federal reserve in a decrease in the FOMC meeting in September. You will remove her by honoring another seat on the Federal Reserve, which will allow the president to nominate a person who will vote in favor of price reduction.

At the cabinet meeting that was held earlier this week, the president once again repeated his call for low interest rates. He also stated that they would soon get the majority in the Federal Reserve.

This step to remove Lisa Cook may not be necessary, taking into account that the Fed Jerome Powell chair has already indicated plans to reduce prices at the FOMC meeting in September. There is also an 83.2 % chance to reduce the price of 25 basis points (BPS), according to CME Fedwatch data.

However, Trump does not leave it for chance, because the president’s candidate replaces Adriana Kogler, Stephen Miran, as it was reported in the path of a The Senate confirmed to the Federal Reserve Before the September meeting.

Moreover, the September’s interest rate reduction is just one of the many price cuts that Trump wants to do the Federal Reserve. The President Shahira called for an average of 300 basis points on several occasions, which he describes as missile fuel for the “prosperous” American economy. The price cuts are optimistic to the encryption market because they will enhance feelings of risks and can pump more liquidity into encryption assets.

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Alignafe Adeyemi

Boluwatife Adeyemi is a writer and editor of encryption news that covers topics that exceed several ports. Its speed and alacity covering uniform break updates. He has a talent to simplify the most technical concepts and make them easy to understand beginners in encryption. Boluwatife is also a lawyer, a law certificate from the University of Ibadan. It also holds a certificate in digital marketing. Away from writing, he is a fan of thirsty basketball, traveler, and part -time Degen.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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