Federal Reserve governor Lisa Cook filed a lawsuit against President Donald Trump on Thursday, setting the stage for a legal battle with major implications for the independence of the central bank.
The Fed has been under the microscope in recent weeks amid pressure from Trump. On Monday night, Trump announced he had fired Cook after a top Trump housing official accused her of mortgage fraud and asked the Justice Department to investigate. Cook has refused to step aside and will now attempt to battle the termination in court.
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The lawsuit, filed in federal court in Was