Washington (CNN) — Federal Reserve Governor Lisa Cook is suing to keep her job on the prominent board after President Donald Trump said he was removing her from her role earlier this week.
Cook’s lawsuit, filed Thursday morning, asks for a judge to rule that Trump’s attempt to remove her is unlawful and that she remains an active member of the Federal Reserve.
Cook’s lawsuit now sets the stage for what could be a high-stakes legal battle with major implications for the Fed and the power of the presidency, even as Trump moves to consolidate his hold over parts of the government once considered sacrosanct and free from political influence.
On Monday, Trump posted on social media a letter addressed to Cook informing her that he had sufficient “cause” to fire the central bank official. The