Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Trump administration’s request that the Supreme Court reverse lower court rulings that have blocked Trump from illegally firing Federal Reserve Board Governor, Dr. Lisa Cook.

“Despite two different courts blocking his attempted illegal firing of Federal Reserve Board Governor Dr. Lisa Cook, Donald Trump is trying once again to undermine the independence of the Fed. This time, as I predicted, by taking this baseless case to the Supreme Court. I expect that courts will continue to uphold the law and protect the independence of the Fed as Congress intended, for the benefit of hardworking Americans across the country. The administration should stop deflecting and focus instead on reversing their harmful economic policies that are pushing the price of everyday goods up and putting people out of work. I call on my Republican colleagues in Congress to stand with Committee Democrats to uphold our constitutional responsibilities and defend the independence of the Fed.”

Background:

• On September 17, Ranking Member Waters hosted a roundtable conversation with former Federal Reserve Board Governor and Vice Chair, Dr. Lael Brainard, to examine threats to Fed independence in light of Trump’s attempted removal of Fed Governor Lisa Cook.
  
  
• On September 12, Ranking Member Waters and Congressman Juan Vargas (D-CA), the top Democrat on the Monetary Policy Taskforce led Committee Democrats in sending a letter to Committee Chairman French Hill (R-AR), demanding a hearing on Donald Trump’s escalating and unconstitutional attempts to seize control of the Federal Reserve, which puts the U.S. economy and the hard-earned retirement savings of millions of working-class families at stake.
  
  
• On September 12, Ranking Member Waters and Committee Democrats sent a letter to Acting Inspector General of the Federal Housing Finance Agency, John Allen, requesting an investigation into the propriety of and the process behind FHFA's allegations into Fed Governor Lisa Cook.
  
  
• On September 10, Ranking Member Waters released this statement after a federal court issued a preliminary injunction to block President Donald Trump’s unlawful and unconstitutional effort to terminate Federal Reserve Governor Lisa Cook.
  
  
• On August 25, Ranking Member Waters released this statement following President Donald Trump’s late-night attempt to fire Federal Reserve Board Governor, Dr. Lisa Cook.
  
  
• On August 22, Ranking Member Waters released this statement in response to President Trump, Federal Housing Finance Agency Director Bill Pulte, and the Department of Justice’s Weaponization Working Group Director Edward R. Martin Jr.’s allegations and attacks on Federal Reserve Governor Lisa Cook.
  
  

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