WASHINGTON − Lisa Cook’s lawyers cautioned Thursday that the Supreme Court would invite “chaos and disruption” if it allowed President Donald Trump to remove her from the Federal Reserve Board, USA Today reported.
That would "sound the death knell for the central-bank independence that has helped make the United States' economy the strongest in the world," her lawyers wrote in a response to Trump’s emergency request that is pending before the court.
Cook’s filing was backed by 18 former Federal Reserve officials, Treasury secretaries and other top economic officials who served under presidents from both parties.
As CUToday.info has reported, the President has asked the court to lift a judge's ruling that Cook can't be removed while she challenges Trump's effort to fire her.
In May, the Supreme Court said Trump could permanently remove without cause members of boards that Congress created to be independent of direct presidential control. But the court also indicated that it would distinguish between the Fed and other agencies, USA Today said.