Forex
Trump Rekindles Battle Over Fed Independence With Renewed Bid to Fire Governor Cook
US President Donald Trump has renewed his effort to remove Federal Reserve Governor Lisa Cook from her position, reigniting a major legal and political battle over presidential power and central bank independence.
The move comes after the Supreme Court previously ruled 5-4 that Cook could remain in her position while she challenged her removal. However, the ruling did not permanently prevent Trump from attempting to remove her again.
Cook is accused of mortgage fraud by the Trump administration, but she denies wrongdoing and claims the allegations are baseless and politically motivated. The Supreme Court found that Cook had not been given the required procedural protections before being targeted for removal.