Trump Administration Moves Ahead with Efforts to Fire Federal Reserve Governor Lisa Cook

The Trump administration is moving forward with efforts to fire Federal Reserve Governor Lisa Cook, despite a Supreme Court ruling in June that allowed her to remain in her position while she fights the president's effort to terminate her over mortgage fraud allegations.

Cook was nominated by President Joe Biden to join the Fed's Board of Governors and has been accused of committing mortgage fraud by declaring two different homes as 'primary residence,' which can result in lower mortgage rates or smaller down payments. She has denied the allegations, saying she refused to bow to political pressure and continued to set interest rates based on what would best serve the American people.

The White House sent Cook a letter this week, citing the Supreme Court's requirement of proper notice, giving her until August 26 to challenge the attempt to fire her. This comes after Chief Justice John Roberts wrote in a footnote that nothing forbids President Donald Trump from 'trying again' to fire Cook provided she is given proper notice and a chance to contest it.

Cook's lawyer, Abbe Lowell, argued in a November letter that Cook has mostly lived in the Ann Arbor property since first purchasing it in 2005, making it accurate for her to refer to it as her 'primary residence' in a June 2021 application to refinance its mortgage. The White House letter largely rehashes the year-old allegations.