Trump signals he has ‘somebody I like’ to replace Lisa Cook, as Fed governor sues over removal – live

President’s comment comes amid reporting that he wants to quickly nominate a replacement as Cook resists attempt to force her out

Lev Menand, a law professor at Columbia law school, said Donald Trump’s attempt to fire Federal Reserve chief Lisa Cook is a “procedurally invalid removal under the statute”.

Menand, who authored a book about the Fed’s actions during the coronavirus pandemic, also said for-cause firings are typically related to misconduct while in office, rather than based on private misconduct from before an official’s appointment.