Lisa Cook denies mortgage fraud allegations and says Trump has no authority to fire her.

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Cook filed a lawsuit in D.C. federal court arguing Trump lacks legal authority to remove Fed governors. U.S. District Judge Jia Cobb issued a temporary restraining order blocking the termination. Cook's brief cites Humphrey's Executor v. United States (1935), where the Supreme Court ruled presidents cannot fire independent agency officials except for statutory causes. The case will determine whether Fed independence has enforceable legal protections or merely relies on presidential restraint. Markets are watching: every day of litigation adds uncertainty.

Lisa Cook denies mortgage fraud allegations and says Trump has no authority to fire her.

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