The Federal Reserve responded for the first time to "Trump fired Cook", suggesting that the court will see
2025-08-26 19:04:41
August 27, Federal Reserve Spokesperson: Under the Federal Reserve Act, Congress explicitly directs that Federal Reserve governors should serve long and fixed terms, and can only be removed by the president for "just cause." The long-term tenure and removal protection mechanism for governors is a crucial safeguard to ensure that monetary policy decisions are based on data, economic analysis, and the long-term interests of the American people. The Federal Reserve will continue to perform its duties in accordance with the law. Governor Cook has said through her personal attorney that she will immediately challenge the action in court. As always, the Fed will comply with any court rulings.
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