Washington’s Federal Reserve System on July 21, 2025. Madalina Kilroy/Epoch Times
Federal Reserve Gov. Lisa Cook is expected to sue President Donald Trump about his recent firing and turn his attention to questions about the president’s scope of power and protections enacted for certain federal agencies.
Like other agencies, Congress has passed legislation that restricts the reasons why the president can eliminate members of the Federal Reserve. In Cook’s case, the Federal Reserve Act allows the president to remove governors “for the sake of a cause.”
