Trump Administration Pushes to Fire Federal Reserve Governor Lisa Cook

The Trump administration is continuing its efforts to fire Federal Reserve Governor Lisa Cook, despite her earlier win in the Supreme Court. In June, the high court ruled 5-4 that Cook could remain in her post while she fights the president's effort to terminate her due to mortgage fraud allegations.

Cook was nominated by President Joe Biden and has denied the allegations, saying she was targeted for refusing to bow to political pressure and setting interest rates based on what would best serve the American people. The Trump administration is appealing a lower-court ruling in Cook's favor and has given her until August 26 to challenge any potential firing.

The attempt to fire Cook is rooted in a criminal referral made last year by Bill Pulte, the director of the Federal Housing Finance Agency, accusing her of committing mortgage fraud. However, Cook's lawyer argued that she had mostly lived in one of the properties since purchasing it in 2005 and that referring to it as her primary residence was accurate.