Trump Renews Bid to Fire Fed Governor Over Alleged Doc Forgery
The Trump administration is renewing its effort to fire Federal Reserve Governor Lisa Cook, despite a Supreme Court setback in June. The court's 5-4 decision allowed Cook to remain in her post while her lawsuit challenging the president's attempt to remove her continues. However, Chief Justice John Roberts noted that nothing prevented Trump from attempting to fire Cook again, provided she was given proper notice and an opportunity to contest the move.
The White House has sent a letter to Cook informing her that the president is 'considering' removing her from the Federal Reserve Board and demanding a response to the underlying allegations within three weeks. The dispute traces back to accusations of falsifying bank documents to secure favorable mortgage terms, which were raised by a housing regulator more than a year ago.
Cook's attorneys have consistently argued that no legitimate cause exists for her removal, citing established Supreme Court precedent that leaves no valid basis for removing her from the board. The renewed effort revives a legal battle widely seen as a test of the Federal Reserve's independence from direct presidential control.