Trump Admin Tries Again to Oust Federal Reserve Governor Over Mortgage Allegations

The Trump administration is moving forward with its efforts to remove Federal Reserve Governor Lisa Cook from her position, despite her earlier win in the Supreme Court. In June, the high court allowed Cook to remain in her job while she fights a lawsuit challenging President Joe Biden's nomination of her to the Fed's Board of Governors. The Trump administration had sought to fire Cook over mortgage fraud allegations, but Cook has denied any wrongdoing.

According to a letter obtained by AP, White House aide Dan Scavino told Cook that Trump was 'considering removing you from your position' and gave her until August 26 to contest it. However, Cook's lawyer, Abbe Lowell, argued that the allegations against Cook were baseless and that she had properly declared both of her homes as primary residences in mortgage applications.

Cook has maintained that Trump tried to oust her 'on a manufactured pretext' because she refused to set interest rates based on political pressure. The latest attempt to fire Cook is an appeal of a lower-court ruling in her favor, which found that Cook had not committed mortgage fraud.