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The Trump administration has doubled down on its accusations against Cook, despite a Supreme Court ruling in her favour. Federal Reserve Governor Lisa Cook has warned the administration of United States President Donald Trump that it has no legal basis to fire her from her leadership position at the central bank. Her legal team’s latest statement comes as Trump renews his efforts to push her out of her role, a manoeuvre widely viewed as an assault on the bank’s independence. Under US law, Federal Reserve governors can only be removed “for cause”, and not for political reasons. Trump has levelled accusations of mortgage fraud against Cook, a Democratic appointee, in a bid to meet the legal standard.
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