Trump asks appeals court to let him fire Lisa Cook before next week's Fed meeting

Core Viewpoint - President Trump's legal team is seeking to expedite the process of removing Federal Reserve Board Governor Lisa Cook before the upcoming Federal Open Market Committee (FOMC) meeting, which is crucial for interest rate decisions [1][2][4]. Group 1: Legal Proceedings - Trump's lawyers have filed a request with the U.S. Court of Appeals for the District of Columbia Circuit to allow his attempt to fire Cook to proceed before the FOMC meeting next week [1][2]. - A lower-court judge had previously blocked Trump's attempt to remove Cook while her lawsuit against him is ongoing [1][4]. - The appeal seeks a ruling by Monday afternoon to influence the FOMC's decisions regarding open market activities [2]. Group 2: Economic Implications - Trump is advocating for a reduction in interest rates to stimulate economic growth and lower the costs associated with national debt [3]. - He has expressed dissatisfaction with Fed Chairman Jerome Powell for not lowering rates in 2025 and has previously considered firing him [3]. Group 3: Allegations and Responses - Trump cited allegations of mortgage fraud against Cook as justification for her removal, although Cook has denied these allegations [4]. - Trump anticipates that he will soon have a majority on the Fed board that will support lowering interest rates [4]. Group 4: Federal Reserve Independence - The judge's ruling emphasized the importance of Federal Reserve independence, suggesting that reinstating Cook serves the public interest [5].