The legal team works to prevent Trump's dismissal, and Federal Reserve Governor Cook receives collective support from former chairpersons

According to the Zhitong Finance APP, on Thursday, the legal team of Federal Reserve Governor Cook submitted documents to the Supreme Court, strongly urging the dismissal of President Trump's request for her immediate removal. Cook's lawyers pointed out in the documents that Trump's actions would "fundamentally undermine the independence of the Federal Reserve Board" and warned that this precedent would pose a long-term threat to the Federal Reserve system.

The core of the case revolves around whether Trump has "legitimate grounds" under the Federal Reserve Act to dismiss Cook. Trump announced the decision at the end of August, citing allegations of mortgage fraud, claiming that two properties located in Ann Arbor, Michigan, and Atlanta, Georgia, were both his primary residences. Cook firmly denies the allegations and accuses the timing of the accusations as "extremely coincidental," coinciding with Trump's public criticism of the Federal Reserve for not quickly lowering interest rates as he wished.

Trump subsequently filed a request with the Supreme Court to lift the lower court's ruling that prevented him from dismissing Cook.

Earlier on Thursday, major economic policymakers from the past 35 years in the U.S., including all living former Federal Reserve Chairs, urged the Supreme Court to allow Governor Cook to continue in her position. The group's submitted documents warned that allowing her dismissal while her legal challenge is ongoing would mark a destructive erosion of the safeguards established by Congress 90 years ago to ensure the independence of the executive branch.

The individuals who signed the document cited research indicating that central banks that do not consider short-term political factors when setting interest rates can reduce inflation and lower long-term rates. This document was signed by former Federal Reserve Chairs Alan Greenspan, Ben Bernanke, and Janet Yellen. The 18 signatories also include presidential advisors from both Republican and Democratic administrations, as well as prominent economists from various ideologies: former Treasury Secretaries Robert Rubin and Lawrence Summers, former Council of Economic Advisers Chairs Glenn Hubbard and Greg Mankiw, among others.

Cook's lawyers wrote in the latest document that the basis for Trump's actions is "fragile, unverified allegations" related to her conduct before taking office, which "magically appeared after the president publicly criticized the Federal Reserve's policy decisions." They emphasized that the process for dismissing a Federal Reserve Governor is strictly protected by law, and the dismissed individual should be entitled to formal notice, a hearing opportunity, and judicial review, rather than being removed solely based on unverified allegations.

"Unlike the president's virtually unlimited claims of power, the president's ability to dismiss a Federal Reserve Governor must have substantive constraints; otherwise, any president could remove any governor based on arbitrary accusations," the document states. "This is not the system that Congress envisioned when designing the Federal Reserve."

Analysts point out that this case not only concerns Cook's personal fate but also represents a significant test of the Federal Reserve's independence. In recent months, Trump has repeatedly complained that the Federal Reserve's interest rate cuts have not been swift enough and has publicly pressured for larger cuts. Just last week, the Federal Reserve announced its first interest rate cut of the year by 25 basis points, a decision in which Cook also participated