The Federal Reserve Governor, Lisa Cook, whose removal is being sought by President Donald Trump, who accuses her of false statements regarding her mortgages, will seek court approval to remain in her position, the Fed said in a statement on Tuesday.
"Lisa Cook has indicated through her personal attorney that she will quickly contest this action in the courts and seek a judicial ruling that confirms her mandate to continue fulfilling her responsibilities as a Senate-confirmed member of the Board of Governors of the Federal Reserve System," the Fed said.
"As always, the Federal Reserve will abide by any judicial decision," it added.
