Trump says he will take action after Supreme Court ruling on Lisa Cook

President of the United States, Donald Trump, said this Monday (29) that the American government will take immediate steps to ensure that Federal Reserve Director Lisa Cook does not make decisions regarding the well-being of the USA.

Trump's comments came after the US Supreme Court refused to allow Trump to fire Cook.

Federal Reserve Director Lisa Cook said the U.S. Supreme Court's decision to block President Trump's attempt to fire her protected the central bank's independence.

The 5-4 decision by the nation's highest court "recognizes that the independence of the Federal Reserve is essential to fulfilling Congress's mandate of price stability and full employment," Cook said in a statement.

Trump's action "was an attempt to remove me under a made-up pretext because I refused to bow to political pressure and continued to set the interest rate based solely on what would best serve the American people," she added.

"I am grateful for this decision, not for myself, but for the American people, whose economic well-being depends on a central bank that fulfills its mission, and does not bow to political intimidation," Cook said.

Trump tried to fire Cook, the first black woman to serve as Fed director, based on unsubstantiated allegations of mortgage fraud. The Supreme Court's ruling prevents Trump from firing Cook while she challenges the president's move against her in court.

Source: CNN