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Trump wants to fire bank boss

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Donald Trump wants to fire Lisa Cook. Cook works at the US central bank. The bank is the Fed. Trump says she did bad things with house loans. He sends her a letter. Cook has 3 weeks now.

She must speak about the problem. Her lawyer says: The claims are false. There is no cause for a fire. Cook is the first black woman in the Fed council.

A court stops the fire in June. The judges want to protect the bank. Trump wants another money policy. He wants low rates for trade.

Cook thinks: Trump wants her out. He does not like her money views. Since 1913 such a case is new. A boss can not just fire Fed staff.

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Definitions

Federal Reserve
The Federal Reserve is the main bank of the USA. It controls the money in the land. People call it the Fed.
Notenbank
A Notenbank is the main bank of a state. It makes the money and sets the rates.
Gouverneursrat
This is the group of bosses at the US bank. They make big choices about money.
Geldpolitik
This is all rules from a bank for money. For example how high the rates are.

People

Donald Trump
Donald Trump is the president of the United States of America.
Lisa Cook
Lisa Cook is an expert for trade. She works in the US bank council.
Abbe Lowell
Abbe Lowell is a law helper. He helps Lisa Cook at court.

Locations

Vereinigte Staaten von Amerika
A big land in North America.

Sources

Logo Standard
Standard

Trump unternimmt neuen Versuch zur Absetzung von US-Notenbankerin Cook

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Logo The Guardian
The Guardian

Trump renews bid to fire Fed governor Lisa Cook despite supreme court ruling

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Südtirol News

Trump will erneut Absetzung von US-Notenbankerin

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Logo ORF
ORF

Trotz Urteils: Trump will Fed-Vorständin feuern

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Logo VOL
VOL

Trump will erneut Absetzung von Notenbankerin Lisa Cook

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