Editing Openai/68ae1e94-ecf4-8001-943f-85af9875a8c4 (section)

===== - Trump’s move is unprecedented. No other president has formally attempted to remove a sitting Fed governor. Axios<ref>{{cite web|title=Axios|url=https://www.axios.com/newsletters/axios-macro-523304c0-8282-11f0-8097-8bf6a4cc68ca|publisher=axios.com|access-date=2025-11-18}}</ref>The Washington Post<ref>{{cite web|title=The Washington Post|url=https://www.washingtonpost.com/business/2025/08/26/lisa-cook-trump-federal-reserve-governor-who-is/|publisher=The Washington Post|date=2025-08-26|access-date=2025-11-18}}</ref> =====
* Lisa Cook will fight the removal. She has retained counsel and plans to litigate the matter in court, arguing that the firing has no factual or legal basis. Reuters<ref>{{cite web|title=Reuters|url=https://www.reuters.com/business/finance/fed-governor-cook-will-sue-trump-keep-her-job-lawyer-says-2025-08-26/|publisher=reuters.com|access-date=2025-11-18}}</ref>AP News<ref>{{cite web|title=AP News|url=https://apnews.com/article/6fca3d2fbb54ba204cc91398e6a7b020|publisher=AP News|access-date=2025-11-18}}</ref>The Washington Post<ref>{{cite web|title=The Washington Post|url=https://www.washingtonpost.com/business/2025/08/26/lisa-cook-trump-federal-reserve-governor-who-is/|publisher=The Washington Post|date=2025-08-26|access-date=2025-11-18}}</ref>
* Legal ambiguities abound. Courts haven’t fully defined what qualifies as "cause" under the law. Trump alleges Cook misrepresented mortgage applications, but proving fraud requires evidence of intent and formal legal proceedings—which are currently not public. CBS News<ref>{{cite web|title=CBS News|url=https://www.cbsnews.com/news/trump-fires-federal-reserve-board-member-lisa-cook/|publisher=CBS News|access-date=2025-11-18}}</ref>Reuters<ref>{{cite web|title=Reuters|url=https://www.reuters.com/business/finance/fed-governor-cook-will-sue-trump-keep-her-job-lawyer-says-2025-08-26/|publisher=reuters.com|access-date=2025-11-18}}</ref>AP News<ref>{{cite web|title=AP News|url=https://apnews.com/article/6fca3d2fbb54ba204cc91398e6a7b020|publisher=AP News|access-date=2025-11-18}}</ref>
* Implications are huge. If Trump succeeds, it could reshape Fed governance and undermine the central bank’s independence. Legal experts anticipate this fight could ultimately reach the Supreme Court. Financial Times<ref>{{cite web|title=Financial Times|url=https://www.ft.com/content/dd3e505d-9093-4bed-8bfb-f241f7a2a3ea|publisher=Financial Times|access-date=2025-11-18}}</ref>Axios<ref>{{cite web|title=Axios|url=https://www.axios.com/newsletters/axios-macro-523304c0-8282-11f0-8097-8bf6a4cc68ca|publisher=axios.com|access-date=2025-11-18}}</ref>MarketWatch<ref>{{cite web|title=MarketWatch|url=https://www.marketwatch.com/story/wall-street-is-more-focused-on-nvidia-than-on-threats-to-fed-independence-that-may-be-a-big-mistake-bb489aaa|publisher=marketwatch.com|access-date=2025-11-18}}</ref>