Trump v. Cook · ¶111

The President explained why, in his view, Cook should not remain on the Board. The Board “has tremendous responsibility for setting interest rates and regulating reserve and member banks.” Ibid. “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve.” Ibid. Thus, the President explained to Cook that because of “deceitful and potentially criminal conduct in a financial matter,” neither he nor the American people could any longer “have such confidence in your integrity.” Ibid. “At a minimum,” the President concluded, “the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator.” Ibid. The President informed Cook that he had “determined that faithfully executing the law requires your…

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