Who is Abbe Lowell? Federal Reserve Governor Lisa Cook Taps High-Profile Lawyer Tapped to Challenge Trump
Federal Reserve Governor Lisa Cook is resisting efforts by Donald Trump to remove her. She has retained Washington lawyer Abbe Lowell, who has also represented Hunter Biden and other prominent figures. Lowell contends Trump lacks the power to oust Cook and that the move is an illegal encroachment on the Fed’s independence.
Federal Reserve Governor Lisa Cook is bracing for a fight over U.S. President Donald Trump’s announcement that he would oust her from the central bank. Cook has retained a high-powered Washington attorney, Abbe Lowell, to represent her and fight what she describes as an illegal move.
Trump suggested on Monday that Cook engaged in mortgage fraud, saying she described two houses in Michigan and Georgia as her primary residences in 2021 to qualify for more favorable loan terms.
Cook vehemently denied the claims, stating that she had done nothing wrong. She also insisted that Trump has “no authority” to fire her from the independent Federal Reserve.
Abbe Lowell said on Tuesday that he and Cook will bring a lawsuit to prevent the dismissal. In a statement, he said Trump’s decision “has no basis in either fact or law” and imperils the Fed’s political independence.
Lowell is one of Washington’s most high-profile lawyers. Throughout his career, he has defended high-profile clients, including Hunter Biden, former Senator Bob Menendez, presidential candidate John Edwards, and members of the Trump family, such as Ivanka Trump and Jared Kushner.
He started his own law firm this year, concentrating on representing public officials who find themselves in political crosshairs.
Cook was appointed to the Federal Reserve Board by President Joe Biden in 2022. She broke ground as the first Black woman in that position. She has pledged not to resign and said she will continue working to support the U.S. economy.
Legal experts say the case could reach the Supreme Court. Under the Federal Reserve Act of 1913, board members can only be removed “for cause.”
Traditionally, that has meant misconduct while in office, not actions taken before joining the Fed. Many scholars believe Trump’s legal claim is weak; however, in recent years, courts have granted more power to presidents to remove agency officials.
The allegations against Cook originated from Bill Pulte, a Trump appointee at the Federal Housing Finance Agency. He claimed that she had misrepresented information in mortgage documents. Readers’ Picks Sherwood377CA California 8h ago Critics say Trump swiftly seized on the claims as a pretext to try to oust her, and they questioned the political independence of the central bank.
Experts warn that if Trump wins, it could undermine the independence of the Fed. That could make it harder to control inflation, as the central bank might face pressure to make decisions based on politics rather than economics.
