Trump asks SCOTUS to back Lisa Cook firing

The Trump administration submitted an emergency petition to the Supreme Court on Thursday to allow the administration to fire Federal Reserve board member Lisa Cook. President Donald Trump fired Cook late last month alleging evidence suggested she made false statements on mortgage agreements, according to a White House letter. Cook refused to leave and sued the administration in response. An appeals court ruled last week that the administration could not terminate Cook while her lawsuit was ongoing. The Department of Justice is now petitioning the high court to overturn the lower court’s ruling.

What was Trump’s argument? The Federal Reserve Board plays a uniquely important role in the American economy, Solicitor General D. John Sauer wrote. The government has a heightened interest to ensure none of its members are ethically compromised while wielding such vast power, he said. A board member who appeared to lie about material interest rate facts, and refused to explain the apparent misrepresentations should not be in power, Sauer said.

It's unclear how the high court will respond to the petition. Justices have granted several recent emergency petitions from the administration, including allowing Trump to fire product safety commissioners and resume roaming immigration raids in Los Angeles. The lower court’s injunction allowed Cook to continue participating in the Federal Reserve, specifically allowing the Biden appointee to vote to approve a quarter percentage point drop in the benchmark interest rate.

Dig deeper: Read my report on the Fed’s Wednesday vote to reduce the interest rate.