Live updates: Fed's Lisa Cook signals lawsuit over Trump's attempt to fire her
Federal Reserve Governor Lisa Cook plans to sue the Trump administration over the president’s attempt to remove her from the central bank, according to her attorney.
Cook Attorney Abbe David Lowell signaled the move in a statement released just before a scheduled Trump Cabinet meeting at the White House.
“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” Lowell wrote.
“His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action.”
Trump on Monday night said he planned to fire Cook from the Fed in an unprecedented move.
“I have determined that there is sufficient cause to remove you from your position,” Trump wrote in a letter to Cook, which was posted on Truth Social.
The Cook controversy adds to a growing list for the president, who is also battling Democrats over his redistricting efforts across the country and his federal takeover of Washington, D.C.'s policing.
Trump says he may send the National Guard to other cities, beginning with Chicago.
The president will also hold a Cabinet meeting at the White House Tuesday afternoon.
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Follow along today for updates.
