Trump Administration Seeks to Fire Fed Governor Over Mortgage Fraud Allegations

The Trump administration is moving forward with its efforts to fire Federal Reserve governor Lisa Cook. In June, the Supreme Court allowed her to retain her job while she fights the president's effort to terminate her over mortgage fraud allegations that she has denied.

Cook was nominated to the Fed's Board of Governors by President Joe Biden and has aggressively defended herself against the allegations. She claims the president had attempted to oust her 'on a manufactured pretext' because she refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people.

The Supreme Court 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. Trump indicated after the opinion that he would do just that, vowing to 'take appropriate action immediately.'