Trump Rekindles Fight to Oust Fed Governor Lisa Cook
US President Donald Trump has renewed his effort to remove Federal Reserve Governor Lisa Cook from her position. The move reignites a long-standing battle over presidential power and the independence of America's central bank.
The allegations against Cook involve mortgage documents from 2021, which she allegedly falsified before joining the Federal Reserve in 2022. Trump has accused Cook of mortgage fraud, while Cook denies wrongdoing and her lawyers have called the allegations baseless and politically motivated.
The Supreme Court previously ruled 5-4 that Cook could remain in her position while she challenges her removal, finding that she had not been given the required procedural protections.
Cook's deadline to respond is August 26. The renewed effort by Trump has sparked concerns about the impact on financial markets and the potential for further legal battles.