Trump Ramps Up Attack on Federal Reserve with Bid to Remove Governor Lisa Cook

US President Donald Trump has renewed his attempt to remove Federal Reserve Governor Lisa Cook from her position, citing mortgage fraud allegations. The move comes after the Supreme Court ruled in June that Trump did not have the power to dismiss Fed governors without procedural protections.

The White House sent a letter to Cook on August 5, signed by Deputy Chief of Staff Dan Scavino, stating that Trump is considering removing her from her position due to allegations that she made false statements on mortgage applications. Cook has been given 21 days to respond to the unproven allegations.

Cook has denied the allegations and maintained that the move was an attempt to remove her for refusing to bow to political pressure and setting interest rates based solely on what would best serve the American people.