White House Economic Advisor Pressures Fed Governor Cook, Saying He Should Recuse Himself During the Lawsuit

BlockBeats News, August 27th - Today, Brian Hassett, Director of the White House National Economic Council, stated that Lisa Cook should take a leave of absence during the litigation regarding her position on the Federal Reserve Board. Hassett told reporters, "If I were in her shoes, I would take a leave of absence right now. It's the honorable thing to do." Hassett expressed his belief that the President has the right to dismiss Federal Reserve Board member Cook, saying, "The President absolutely has the right to dismiss a Federal Reserve Board member for cause, and I believe these allegations are serious."

Yesterday, U.S. President Trump signed a document removing Federal Reserve Board member Cook from her position, effective immediately. Furthermore, Trump had previously openly considered nominating Hassett as the next Chair of the Federal Reserve.