Supreme Court Blocks Trump's Attempt to Fire Fed Governor Over Mortgage Allegations
The US Supreme Court has temporarily blocked President Donald Trump's attempt to fire Federal Reserve Board member Lisa Cook, citing concerns over 'cause' for her removal and due process. The decision means Cook will retain her position as a Democratic appointee with 10 years left on her 14-year term.
Cook is the first Black woman to serve on the central bank's advisory committee. Trump had argued that allegations of mortgage fraud against Cook, raised by Federal Housing Finance Agency Director Bill Pulte, were sufficient grounds for her removal.
The case centered on a 2021 mortgage document in which Cook listed her second home as her primary residence, potentially securing more favorable loan terms. However, Cook's attorneys disputed the allegations, calling it a 'pretext' for a politically motivated effort to manipulate the Fed's policy board.