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Donald Trump wants to fire bank boss

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Donald Trump wants to fire Lisa Cook. Cook works as a boss at the US bank. Trump says she makes fraud with house loans. She makes false claims about her homes. She wants better rates with this. Cook says: This is not true. It is just a small error in papers.

Trump now makes a new group. These experts check all bad claims now. On 5 November is a secret meeting. Lisa Cook must answer questions there. A lawyer helps her there. Then the group makes a choice. They give Trump a tip for the firing.

This is not the first try from Trump. He wants to fire Cook already in 2025. But a court stops him then. The court says: Trump must follow rules. He cannot just fire a bank boss. The bank must work free from politics. Joe Biden names Cook before. Her job goes until 2038.

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Definitions

Fed
The Fed is the main bank of the USA. It makes rules for money and rates. It works free from the government.
Notenbank-Direktorin
A person in a high boss role at a state bank. This bank makes rules for money.
Untersuchungs-Ausschuss
A group of experts. They check a bad event or act from a person.

People

Donald Trump
The current president of the United States.
Lisa Cook
An expert for money. She is the first black woman in the US bank team.
Joe Biden
The past president of the United States.

Locations

Vereinigte Staaten von Amerika
A big country in North America.

Sources

Logo Spiegel
Spiegel

Lisa Cook: Trump will Fed-Direktorin per Untersuchungsausschuss loswerden

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Logo Al Jazeera
Al Jazeera

Trump launches probe into Federal Reserve Governor Lisa Cook

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Logo The Guardian
The Guardian

Trump establishes committee to investigate Fed governor Lisa Cook

Read now
Logo ORF
ORF

Trump will erneut Entlassung von Notenbank-Direktorin prüfen

Read now

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