Svmuu News Federal Reserve Board Member Cook stated: “This matter (the mortgage fraud allegations) has absolutely nothing to do with mortgage documents I signed before serving as a board member of Federal Reserve. This is purely a plot to remove me from office, based on entirely fabricated pretexts;I am being targeted because I refused to yield to political pressure and insisted on setting interest rate policy based solely on what is in the best interest of the American people. This is precisely the fundamental duty of a Federal Reserve board member. Today’s ruling reaffirms a principle that has underpinned sound economic management for generations: Federal Reserve must make all policy decisions based on evidence and independent judgment, free from political interference.”
“The Supreme Court’s decision to uphold the lower court’s order and affirm the necessity of due process and just cause recognizes that the independence of the Federal Reserve is essential to achieving the goals of ‘price stability’ and ‘full employment’ entrusted to us by Congress. I am deeply gratified by this ruling.As long as I remain at Federal Reserve, I will continue to defend the principle of political independence and serve the American people with the utmost dedication.” (Jin Shi)