AssetID: 55015641
Headline: UNCAPTIONED: Trump Faces Legal Showdown Over Attempt to Fire Fed Governor Lisa Cook
Caption: Trump Faces Legal Showdown Over Attempt to Fire Fed Governor Lisa Cook. Federal Reserve Governor Lisa Cook is taking President Donald Trump to court after he tried to remove her from the central bank. Cook's lawyer argues Trump has no legal authority to fire her, since Fed governors serve fixed terms and can only be dismissed "for cause." Trump, however, claims Cook lied on past mortgage applications and says he has the constitutional power to act. The unprecedented clash has rattled investors, with U.S. government bonds selling off and concerns rising over the Fed's independence. Analysts warn that undermining trust in the central bank could drive up borrowing costs worldwide. Cook, appointed in 2022 and the first African American woman on the Fed board, insists she will not resign. She says Trump's allegations are baseless and politically motivated. The outcome could reshape both the Fed's credibility and the president's influence over U.S. monetary policy. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current affairs & Politics,Trump,Legal showdown,Lisa Cook,Federal Reserve,Court case,Firing attempt,Fixed terms,Constitutional power,Mortgage allegations,Fed independence,Investor concerns,Bond sell-off,Borrowing costs,Credibility,Monetary policy
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