Overview

• In Tuesday filings, Lisa Cook’s lawyers called the FHFA referrals “cut-and-paste” allegations and argued she was denied notice and a chance to respond.
• The lawsuit contends any mortgage contradictions were disclosed during 2022 vetting, so they cannot now constitute statutory “cause” for removal.
• U.S. District Judge Jia Cobb gave both sides until Thursday to brief a temporary restraining order, signaling no ruling before then.
• The White House says the president acted within his authority to remove her for cause, and FHFA Director Bill Pulte posted a video claiming a listed primary residence was being rented.
• Nearly 600 economists, including Nobel laureates and former senior advisers, signed an open letter warning the attempt threatens Fed independence, and Cook has not been charged with a crime.