Core Viewpoint - Federal Reserve Governor Lisa Cook has filed a lawsuit against former President Donald Trump, aiming to block his unprecedented attempt to remove her from office, which could escalate to the Supreme Court [3][4]. Group 1: Lawsuit Details - The lawsuit was submitted to a federal court in Washington, D.C., and includes Federal Reserve Chairman Jerome Powell and the Board of Governors as defendants [4][5]. - Cook's attorney argues that Trump's attempt to remove her is illegal and unprecedented, as the Federal Reserve Act requires "just cause" for such actions, which the unverified allegations against Cook do not meet [4][6]. Group 2: Allegations and Context - Trump claims he decided to remove Cook due to alleged fraudulent behavior related to her mortgage applications for two properties [4][6]. - The allegations against Cook originated from Bill Pulte, a supporter of Trump, who has referred the matter to the Department of Justice for investigation [6][8]. Group 3: Legal Implications - The case hinges on whether the court will determine that Trump had "just cause" under U.S. law to dismiss Cook, as defined by the Federal Reserve Act, which does not explicitly define "just cause" [8]. - The lawsuit highlights the ongoing tensions between Trump and the Federal Reserve, particularly regarding interest rate policies [6][8].

Core Points - President Trump announced the immediate dismissal of Federal Reserve Governor Lisa Cook via a letter on social media, citing constitutional grounds and the Federal Reserve Act [1][3] - The letter referenced a criminal referral from the Federal Housing Finance Agency, alleging Cook made false statements in mortgage documents, questioning her integrity and competence as a financial regulator [3] - Cook, the first African American woman to serve as a Federal Reserve Governor, was appointed in May 2022 and had a term lasting until 2038 [3] Summary by Sections - **Dismissal Announcement** - Trump publicly announced Cook's dismissal on August 25 through his social media platform [1] - **Allegations Against Cook** - The letter cited a criminal referral alleging Cook made contradictory statements regarding her primary residence in Michigan and Georgia [3] - Trump characterized Cook's actions as "unimaginable" and raised concerns about her credibility as a financial regulator [3] - **Background of Lisa Cook** - Cook was appointed as a Federal Reserve Governor in May 2022 and is noted for being the first African American woman in this role [3] - Prior to her appointment, she was an economics professor at Michigan State University and served on the Council of Economic Advisers during the Obama administration [3]