President Donald Trump's bid to reshape the Federal Reserve board is putting the Supreme Court in a familiar position, weighing an emergency appeal from the president's lawyers in a politically charged case. The court hears arguments Wednesday over Trump's effort to oust Federal Reserve governor Lisa Cook based on allegations she committed mortgage fraud, which she denies. No president has fired a Fed governor in the agency's 112-year history. Trump's critics say he wants to take control of U.S. interest rate policy. The Republican president wants interest rates to fall so Americans pay lower borrowing costs for homes and cars. Worries about high costs have soured some voters on Trump's economic management.
A federal lawsuit filed by U.S. Rep. Eric Swalwell accuses the Trump administration's top housing regulator of abusing his position to misuse private mortgage records belonging to Swalwell and other Democratic critics of the Republican president. Swalwell sued Federal Housing Finance Agency Director Bill Pulte on Tuesday — less than two weeks after Pulte formally referred the California Democrat to the Justice Department for possible criminal prosecution on mortgage fraud charges. Swalwell is seeking a court order for Pulte and his agency to withdraw the criminal referral. Pulte didn't immediately respond to a text message and telephone call seeking comment on the lawsuit.
Lawyers for two of President Donald Trump's foes who've been charged by the Justice Department have asked a federal judge to dismiss the cases against them, saying the prosecutor who secured the indictments was illegally installed. U.S. District Judge Cameron McGowan Currie says she expects to decide by Thanksgiving on challenges to Lindsey Halligan's appointment as interim U.S. attorney for the Eastern District of Virginia. Currie also disclosed Thursday a record of grand jury proceedings in ex-FBI Director James Comey's case was missing a portion. Comey denies charges of making a false statement and obstructing Congress. New York Attorney General Letitia James also was charged by Halligan and denies mortgage fraud allegations.
