Trump Administration Revives Effort to Fire Federal Reserve Governor Lisa Cook
The Trump administration is moving forward with its efforts to fire Federal Reserve governor Lisa Cook, despite her being allowed to remain in her position by a Supreme Court ruling two months ago. The court had given Cook until August 26 to challenge any attempt to remove her from the Fed's Board of Governors.
Cook was nominated by President Joe Biden and has been accused of mortgage fraud by Bill Pulte, the director of the Federal Housing Finance Agency. She denies the allegations, saying they are a 'manufactured pretext' to oust her due to her refusal to set interest rates based on political pressure.
The Trump administration is appealing a lower-court ruling in Cook's favor and has sent her a letter informing her that she may be removed from her position. The attempt to fire Cook is rooted in the criminal referral made by Pulte last August, which accused Cook of committing mortgage fraud by declaring two different homes as her 'primary residence.'