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Trump attack on Fed's Lisa Cook cost her more than $1 million
CNBC • • business
Key Points:
- Federal Reserve Governor Lisa Cook incurred over $1.3 million in legal and security expenses after former President Trump attempted to fire her in August, with these costs covered by outside individuals and organizations, according to a new ethics filing.
- Trump sought to remove Cook based on allegations of mortgage fraud made by Bill Pulte, but Cook denies wrongdoing and has sued to block her firing, remaining on the Fed board pending a Supreme Court ruling on the matter.
- The ethics filing reveals that nearly $1.2 million for legal services came from the Democracy Defenders Fund and Contina Impact, with Contina Impact also providing about $144,000 for security; Cook’s attorney, Norm Eisen, is a co-founder of the Democracy Defenders Fund.
- Cook has faced public attacks and security concerns following the allegations, prompting protective measures, and federal ethics rules allow such outside payments for expenses related to official duties.
- Bill Pulte is set to become acting director of the Office of National Intelligence, while Cook remains on leave from Michigan State University and reports rental income from investment properties.
