Federal Reserve Governor Cook: Will Defend Fed Independence, Welcomes Supreme Court Ruling

Odaily Planet Daily News Federal Reserve Governor Cook stated: "This matter (mortgage fraud allegations) is absolutely not about mortgage documents I signed prior to becoming a Federal Reserve Governor. This is purely a conspiracy aimed at removing 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 best serves the American people. And that is the most fundamental duty of a Federal Reserve Governor. Today's ruling reaffirms a principle that underpins generations of sound economic management: The 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 confirm the necessity of following due process and having just cause; this decision recognizes that the Fed's independence is crucial for achieving the congressionally mandated goals of 'price stability' and 'maximum employment.' I am deeply gratified by this ruling. As long as I serve at the Federal Reserve, I will continue to defend the principle of political independence and serve all the American people with dedication." (Jin Shi)