President Trump has tried to oust Lisa Cook from her role as a Federal Reserve governor over allegations of mortgage fraud, even though she hasn’t been charged with a crime.
The economy added only 22,000 jobs in August. President Trump’s high tariffs and mass deportations appear to have created noticeable pressure on employers.
The move was instigated by Ed Martin, a Trump loyalist who has said it is legitimate for officials to publicly air criminal investigations into people targeted by the president.
President Trump has been trying to fire Lisa Cook, a Federal Reserve governor, over allegations that she falsified bank documents to obtain favorable terms on a mortgage.
President Trump has maintained that any erosion in his ability to impose levies using the International Emergency Economic Powers Act will inflict damage on the United States by robbing it of both revenue and leverage.
The decision is a big blow to President Trump’s trade policies, but the judges left the duties in place for now to allow time for a likely appeal to the Supreme Court.
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