Cook Fires Back at Trump over Mortgage Fraud Allegations
Federal Reserve Governor Lisa Cook has pushed back against renewed threats from the Trump administration to remove her from the central bank's governing board. In a letter dated August 26, 2026, Cook's attorneys, Abbe Lowell and Norman Eisen, argued that there is no legal basis for President Trump to fire her. The White House had given Cook until Wednesday to respond to allegations of mortgage fraud.
Cook denies the charges, which the Supreme Court ruled could not be used as grounds for removal without proper notice and a chance to contest it. The court also stated that any errors in paperwork could not be considered fraud unless proven in court.
Cook's attorneys maintained that Trump is trying to exert pressure on the Fed to lower interest rates, which he has long advocated for. They accused him of using the allegations as a means to 'force the Federal Reserve to bend to his will.'