Trump Administration Revives Bid to Remove Fed Governor Lisa Cook

The Trump administration has revived its efforts to remove U.S. Federal Reserve Governor Lisa Cook from her position, citing mortgage fraud allegations.

The move follows a Supreme Court decision earlier this year that blocked Trump's first attempt to remove Cook, ruling that she was not given adequate notice or an opportunity to respond.

The White House says the allegations constitute 'cause' for removal and undermine public confidence in the Federal Reserve. The letter giving Cook 21 days to respond is dated August 5, with a deadline of August 26 for her response.

Cook's lawyers have rejected the allegations, calling them 'baseless' and stating that there is no valid cause for removing the governor.