Trump Moves to Fire Fed Governor Over Mortgage Fraud Allegations

The Trump administration is moving forward with its efforts to fire Federal Reserve governor Lisa Cook. This comes after the Supreme Court allowed her to retain her job while she fights a lawsuit challenging President Biden's decision to terminate her over mortgage fraud allegations. The justices ruled in June that Cook could remain in her post as long as her lawsuit continues.

However, Chief Justice John Roberts noted in his opinion that nothing prohibits President Trump from attempting to fire Cook again if he provides proper notice and allows her to contest it. In a letter obtained by the Associated Press, White House aide Dan Scavino informed Cook that she would be removed if she did not provide a response by August 26.

Cook has denied the allegations of mortgage fraud, stating that she was targeted for refusing to bow to political pressure and set interest rates based on what is best for the American people. Her lawyer argued in court documents that Cook had mostly lived in one of her homes since purchasing it in 2005 and that referring to it as her primary residence in a mortgage application was accurate.

The White House has claimed that these allegations are still valid, but Cook's lawyer disputes this, stating that the attempt to fire her is 'baseless' and that she will challenge it.