Fed's Lisa Cook Fires Back at Renewed Trump Threats

Federal Reserve Governor Lisa Cook has fired back at renewed threats from the White House to remove her from her position. In a letter dated Wednesday, Cook stated that the Trump administration lacks legal grounds for removing her from the central bank's governing board.

This is not the first time Trump has sought to fire Cook. Last year, he attempted to remove her due to allegations of mortgage fraud, which she denies. The Supreme Court ultimately ruled in favor of Cook, allowing her to remain in her position while the case against her is litigated.

The high court also made it clear that Trump could try to fire Cook again if he provided proper notice and allowed her to contest the decision. However, Cook's latest letter suggests that the administration has failed to meet these requirements.