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Lisa Cook's Legal Action: Lisa Cook plans to sue President Trump over his attempt to fire her from the Federal Reserve, claiming he lacks the authority to do so.
Federal Reserve's Independence: The Federal Reserve has emphasized its independence and stated it will abide by any court ruling regarding Cook's firing.
Trump's Justification: Trump claims he fired Cook for cause due to alleged inaccuracies in her mortgage documents, while Cook asserts that no legal grounds exist for her dismissal.
Potential Supreme Court Involvement: The legal battle could escalate to the Supreme Court, which has previously ruled favorably on Trump's ability to remove members from independent agencies.
