Fed Governor Cook to sue Trump over her firing

Federal Reserve Governor Lisa Cook plans to sue the Trump administration over her firing. Attorney Abbe Lowell said that President Trump “has no authority to remove” Cook. No president has ever fired a Fed governor before, but the president said Cook “seems to have had an infraction.” The law that governs the central bank allows for the removal of Fed governors “for cause.” The Trump administration alleges that Cook committed mortgage fraud.