Fmr. Fed Counsel Scott Alvarez weighs in on Trump vs. Fed Gov. Lisa Cook

Legal & Procedural Aspects - Lisa Cook's attorney confirms she will file a lawsuit against the president for attempting to remove her from the Federal Reserve [1][6] - The lawsuit's basis is the lack of due process and factual findings regarding the alleged mortgage fraud [7] - "Cause" for removal generally means malfeasance or dereliction of duties related to the job [3] - It's an unsettled question whether pre-appointment conduct can be grounds for removal after Senate confirmation [4][5] Federal Reserve Independence - The president, not the Fed, has the authority to remove a governor [11] - A president can legitimately conduct an investigation if facts warrant it [12] Lisa Cook's Response - Lisa Cook has not directly addressed the facts of the case [8] - She is challenging the removal in court [9]