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Extracted Claims (29746)

Instead, the central bank said in a filing it sought a “prompt ruling” in the case and would follow the court’s orders. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Central bank said it sought prompt ruling and would follow court's orders.

1 sources

1 week ago
But in a statement earlier this week, a spokesperson at the central bank spoke positively about the protections laid out in the Federal Reserve Act that seek to insulate the institution from political... 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Central bank spokesperson spoke positively about protections in Federal Reserve Act.

1 sources

1 week ago
Ahead of Friday’s hearing, the Fed weighed in as well, saying that it would not offer arguments to support Ms. Cook’s lawsuit. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Ahead of Friday's hearing Fed said it would not offer arguments to support Cook's lawsuit.

1 sources

1 week ago
They also acknowledged the stakes of the case, warning that if the president were allowed to proceed with her removal, the independence of the institution would be jeopardized. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Cook's lawyers warned if President proceeds with removal institution's independence would be jeopardized.

1 sources

1 week ago
Her lawyers argued that Mr. Trump’s actions were “unprecedented and illegal” and were part of a broader campaign to pressure the Fed to lower interest rates. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Cook's lawyers argued Trump's actions were unprecedented and illegal part of campaign to pressure Fed.

1 sources

1 week ago
She also sued the board and Jerome H. Powell, the Fed chair, to prevent them from executing on Mr. Trump’s order to remove her. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Cook sued board and Jerome Powell to prevent them from executing Trump's order.

1 sources

1 week ago
As a governor, Ms. Cook casts a vote at every meeting on interest rates as well as other major policy decisions. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: As governor Cook casts vote at every meeting on interest rates and policy decisions.

1 sources

1 week ago
The response from Mr. Trump’s lawyers came after Ms. Cook filed a lawsuit on Thursday against the president over his attempt to remove her from her position as a member of the Fed’s powerful Board of... 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Trump's lawyers' response came after Cook filed lawsuit against President over removal attempt.

1 sources

1 week ago
The lawyers attacked Ms. Cook for what they described as a noteworthy refusal to address nature of the allegations against her. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Lawyers attacked Cook for refusing to address allegations against her.

1 sources

1 week ago
Mr. Trump's lawyers said the president’s rationale provided “more than sufficient ground for removing a senior financial regulator from office.” 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Trump's lawyers said President's rationale provided sufficient ground for removing financial regulator.

1 sources

1 week ago
In doing so, the Justice Department told the court it should be “highly deferential” to the president and his interpretation of what qualifies as sufficient cause to remove a government official. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Justice Department told court it should be highly deferential to President's interpretation of cause.

1 sources

1 week ago
In a roughly 30-page filing, submitted just before a federal judge was set to hear the first arguments in the case, the Justice Department said that Mr. Trump had sufficient cause to dismiss Ms. Cook... 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Justice Department said Trump had sufficient cause to dismiss Cook over mortgage fraud allegations.

1 sources

1 week ago
Friday’s hearing is the first in what is likely to be a landmark legal battle that will determine the future of the Fed and its ability to set interest rates free of political meddling. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Friday's hearing is first in landmark legal battle determining Fed's future and ability to set rates.

1 sources

1 week ago
In justifying their case, the administration sketched out a sweeping view of the president’s power to dismiss members of the independent central bank. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Administration sketched sweeping view of President's power to dismiss central bank members.

1 sources

1 week ago
Lawyers for President Trump on Friday asked a federal judge to reject a request by Lisa Cook, a governor at the Federal Reserve, to remain in that role as she contests the legality of her firing. 0.500

👤 Colby Smith and Tony Romm 📋 Website Article 🏷️ General

Simplified: Trump's lawyers asked judge to reject Lisa Cook's request to remain in role.

1 sources

1 week ago
The president is arguing that he has “broad discretion” to determine what meets the mark of “for cause.” 0.500

👤 Colby Smith 📋 Website Article 🏷️ General

Simplified: President is arguing he has broad discretion to determine what meets mark of for cause.

1 sources

1 week ago
What Cook’s lawyer is trying to achieve in today’s hearing is to establish in a legal setting that Cook can stay on and do her job as a governor while her lawsuit plays out. 0.500

👤 Colby Smith 📋 Website Article 🏷️ General

Simplified: Cook's lawyer is trying to establish Cook can stay on and do her job during lawsuit.

1 sources

1 week ago
Legal experts have said that the allegations against Cook are simply pretext and that the president’s real motive is to gain an opening on the Fed’s Board of Governors in order to install another loya... 0.500

👤 Colby Smith 📋 Website Article 🏷️ General

Simplified: Legal experts say allegations against Cook are pretext President's motive is to install loyalist.

1 sources

1 week ago
The judge has now finished questioning Trump’s lawyer, who suggested that even if Cook filled out the mortgage forms mistakingly, that would not change Trump’s assessment that there was cause to remov... 0.500

👤 Colby Smith 📋 Website Article 🏷️ General

Simplified: Judge finished questioning Trump's lawyer who suggested Cook's mistake would not change Trump's assessment.

1 sources

1 week ago
Trump’s lawyer tells the judge, Jia Cobb, that the allegations the administration lodged against Cook — that she engaged in mortgage fraud — are not pretext. 0.500

👤 Colby Smith 📋 Website Article 🏷️ General

Simplified: Trump's lawyer tells judge Jia Cobb allegations against Cook are not pretext.

1 sources

1 week ago