Ethics disclosures filed on Wednesday show that two non‑profit organizations, State Democracy Defenders Fund and Contina Impact, reimbursed Fed governor Lisa Cook for more than $1m of the $1.3m in legal and security fees she incurred after President Trump fired her from the FOMC last summer. Trump’s housing finance nominee Bill Pulte had accused her of mortgage fraud; Cook denied the allegations, and a federal court temporarily reinstated her while the Supreme Court weighs the legality of the removal, with a ruling expected before the end of June. The reimbursement disclosure provides a concrete figure for the personal costs behind Powell’s 1 June warning that removing a Fed official over policy differences would permanently erode public trust.
Context
The reimbursement disclosure provides a concrete figure for the personal costs behind Powell’s 1 June warning that removing a Fed official over policy differences would permanently erode public trust.
