Trump Administration Seeks to Oust Fed Governor Amid Mortgage Fraud Allegations
The Trump administration is pressing ahead with its efforts to fire Federal Reserve Governor Lisa Cook, despite a Supreme Court decision two months ago that allowed her to remain in her post while she fights allegations of mortgage fraud.
Cook, who was nominated by President Joe Biden to the Fed's Board of Governors, was initially set to be fired after a lower-court ruling in her favor. However, the Trump administration appealed the ruling and is now seeking to have Cook removed from her position.
The Supreme Court's 5-4 decision in June allowed Cook to retain her job as long as her lawsuit challenging her firing continues. The court did not weigh in on the merits of the allegations against Cook, but rather ruled that she should remain in office until the matter is resolved through the courts.