Representative Ro Khanna asserts that Trump is emulating Nixon's strategy in an effort to 'interfere' with the Federal Reserve.

 

WASHINGTON — Representative Ro Khanna, D-Calif., stated that Federal Reserve governor Lisa Cook ought to disclose her mortgage documents, while also accusing President Donald Trump of "adhering to Richard Nixon’s strategy to interfere with" the Federal Reserve.

Khanna’s remarks during a Sunday interview on NBC News’ "Meet the Press" followed Trump’s decision to attempt to dismiss Cook on Monday, citing claims of mortgage fraud. Cook is contesting this action through a lawsuit.

The congressman referenced President Richard Nixon's pressure on the then-Fed chair to maintain lower interest rates prior to the 1972 election, which Nixon won before resigning two years later due to the Watergate scandal.

Years later, Trump’s effort to terminate Cook represents an unprecedented attempt to assert control over an independent agency, a move that Democrats have characterized as "authoritarian" and a "power grab," while Trump has accused Cook of "deceitful and potentially criminal conduct."

"She ought to be transparent," Khanna remarked when asked if Cook should release her mortgage documents to refute the allegations. "However, this issue is not about the particulars of Lisa Cook. It pertains to Donald Trump following Richard Nixon’s strategy to meddle with the Fed and intimidate the Fed."

He contended that Trump’s tariff policies were obstructing the Federal Reserve from reducing rates, which Trump has advocated for.

"The irony is that it’s his own policies that have led to this situation," Khanna stated. "If he simply repealed the blanket tariffs, he wouldn’t be exerting the inflationary pressure that exists, and the Fed would be in a position to lower rates."

When asked again if Cook should release her mortgage documents to counter the fraud allegations, Khanna concurred.

"Certainly, she ought to make them public," Khanna remarked. "She must be open so that we understand this is merely a political issue."

On Thursday, Cook filed a lawsuit against Trump, contending that his effort to terminate her was "illegal and invalid." The attorneys representing Cook and the White House convened before a judge the following day; however, the judge did not make a decision regarding Cook's plea for a temporary restraining order to stop her dismissal while the case is ongoing.