Donald Trump renews effort to fire Federal Reserve governor Lisa Cook

The Trump administration is continuing its efforts to remove Federal Reserve Governor Lisa Cook from her position, two months after the Supreme Court allowed her to remain while she contests the termination. The administration is appealing a lower court ruling that favored Cook, who was nominated by President Biden. The attempt to fire Cook stems from allegations of mortgage fraud, specifically declaring two different homes as her primary residence. Cook denies these allegations, asserting they are a pretext to remove her due to political pressure. Her lawyer argues that her designation of the Ann Arbor home as primary was accurate and the Atlanta condo notation was an isolated mistake without intent to defraud. The White House has sent Cook a letter, providing her notice and an opportunity to challenge the removal consideration.

Donald Trump is again attempting to remove Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud. This renewed effort follows a Supreme Court ruling that upheld the Federal Reserve's independence and stated Cook was entitled to procedural protections when facing such allegations. The White House sent Cook a letter this week, requiring her to respond to the claims within three weeks. Cook's legal team maintains the allegations are baseless and that Trump's actions interfere with the Fed's independence. Trump initially fired Cook last August over accusations of improperly designating primary residences and failing to report rental income, which Cook denies.

President Trump is renewing his attempt to remove Federal Reserve Governor Lisa Cook from her position, despite a previous setback from the Supreme Court. The White House sent Cook a letter this week stating the president is "considering" her removal and demanding a response to unproven mortgage fraud allegations within three weeks. Cook's lawyer has called these allegations "baseless" and stated they will challenge the action. This is the second time this week Trump has restarted an effort that the Supreme Court previously blocked, following a similar attempt to limit birthright citizenship. The letter alleges Cook committed crimes punishable by up to 30 years in prison and acted negligently, questioning her trustworthiness as a Fed governor.