WASHINGTON — Rep. Ro Khanna, D-Calif., mentioned that Federal Reserve governor Lisa Cook dinner ought to launch her mortgage paperwork however accused President Donald Trump of “following Richard Nixon’s playbook to intervene with” the Federal Reserve.
Khanna’s feedback in a Sunday interview on NBC Information’ “Meet the Press” come after Trump moved to fireplace Cook dinner on Monday, pointing to allegations of mortgage fraud. Cook dinner is difficult the transfer in a lawsuit.
The lawmaker was referring to President Richard Nixon pressuring the then-Fed chair to preserve rates of interest decrease earlier than the 1972 election, which Nixon received earlier than resigning two years later due to the Watergate scandal.
Many years later, Trump’s try to fireplace Cook dinner marked a rare transfer to exert management over an unbiased company, a transfer that Democrats have painted as “authoritarian” and a “energy seize,” whereas Trump accused Cook dinner of “deceitful and doubtlessly legal conduct.”
“She needs to be clear,” Khanna mentioned, responding to a query about whether or not Cook dinner ought to launch her mortgage paperwork to dispute the allegations. “However this has nothing to do with the specifics of Lisa Cook dinner. This has to do with Donald Trump following Richard Nixon’s playbook to intervene with the Fed and bully the Fed.”
He argued that Trump’s tariff insurance policies have been standing in the way in which of the Federal Reserve decreasing charges, as Trump has pushed for.
“The irony is that it’s his personal insurance policies which have created the scenario,” Khanna mentioned. “If he simply repealed the blanket tariffs, he wouldn’t be placing the inflationary strain that exists, and the Fed would be capable of lower charges.”
Requested once more whether or not Cook dinner ought to launch her mortgage paperwork to fight allegations of fraud, Khanna agreed.
“Nicely, positive she ought to launch them,” Khanna mentioned. “She’s needs to be clear in order that we see that that is only a political soccer.”
Cook dinner sued Trump on Thursday, arguing his try to fireplace her was “illegal and void.” Attorneys for Cook dinner and the White Home appeared earlier than a choose sooner or later later, although the choose finally didn’t rule on Cook dinner’s request for a short lived restraining order to stop her from being fired whereas the case proceeds.
The president has been vocally pushing for the Federal Reserve to decrease rates of interest, often berating Chair Jerome Powell. The Federal Reserve is ready to satisfy in September to find out whether or not to decrease rates of interest.
Trump’s criticism of Cook dinner started after Federal Housing Finance Company Director Invoice Pulte filed a legal referral towards Cook dinner, accusing her of placing false info on mortgage functions earlier than becoming a member of the Fed. Pulte filed a second legal referral final week, accusing her of misrepresenting one other property on a mortgage doc. Cook dinner’s lawyer hit again, calling the referral “an apparent smear marketing campaign.”
Khanna’s feedback come days earlier than Congress is ready to return from August recess, gearing up for an additional high-stakes showdown over recordsdata associated to Jeffrey Epstein.
Khanna and Rep. Thomas Massie, R-Ky., are co-sponsoring a invoice to make the Trump administration launch “all unclassified information” on Epstein. The struggle over Epstein roiled Congress so forcefully this summer time that Home Speaker Mike Johnson started summer time recess sooner or later early after Democrats deliberate to pressure votes associated to Epstein.
The bipartisan duo additionally plans to host a press convention on Wednesday with “survivors of Jeffrey Epstein and Ghislaine Maxwell’s abuse,” in keeping with the press launch.
Khanna mentioned Sunday that he’s “very assured” his and Massie’s invoice will go. The congressman mentioned that the Wednesday press convention “will probably be explosive,” including that “many” of the audio system haven’t spoken publicly about their experiences earlier than.
“They are going to be telling their story, and they are going to be saying clearly to the American public that they need the discharge of the Epstein recordsdata for full closure on this matter,” Khanna mentioned.
