Trump Renews Bid to Oust Fed Governor Lisa Cook Amid Mortgage Fraud Allegations

US President Donald Trump has renewed his effort to remove Federal Reserve Governor Lisa Cook from her position, rekindling a major legal and political battle over presidential power and central bank independence.

The Trump administration is seeking Cook's removal due to allegations involving mortgage documents from 2021, before she joined 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.

A previous Supreme Court ruling allowed Cook to remain in her position while she challenged her removal, but this decision did not permanently prevent Trump from attempting to remove her again. The court found that Cook had not been given the required procedural protections, but Chief Justice John Roberts indicated that the president could pursue removal if Cook received proper notice and an opportunity to respond.

Cook's deadline to respond is August 26. The battle over Federal Reserve independence has significant implications for monetary policy and the economy as a whole.