United States President Donald Trump’s administration has asked the US Supreme Court to let him move ahead with firing Federal Reserve Governor Lisa Cook – a move without precedent since the central bank’s founding in 1913 – in a legal battle that imperils the Fed’s independence.The Department of Justice asked the justices on Thursday to lift US District Judge Jia Cobb’s September 9 order temporarily blocking the Republican president from removing Cook, an appointee of Democratic former President Joe Biden.Recommended Stories list of 4 itemsend of listCobb ruled that Trump’s claims that Cook committed mortgage fraud before taking office, which Cook denies, likely were not sufficient grounds for removal under the law that created the Fed.“This application involves yet another case of improper judicial interference with the President’s removal authority – here, interference with the President’s authority to remove members of the Federal Reserve Board of Governors for cause,” the Justice Department said in the filing.Cook took part in the Fed’s highly anticipated two-day meeting in Washington on Tuesday and Wednesday, in which the central bank cut interest rates by a quarter of a percentage point, as policymakers responded to concerns about weakness in the job market. Cook was among those voting in favour of the cut announced on Wednesday.The Fed did not immediately respond to a request for comment. It has previously said it would abide by a court’s decision, and in the meantime, Cook would remain in her job.The US Court of Appeals for the District of Columbia …
