Trump Renews Bid to Oust Fed Governor Over Mortgage Fraud Allegations
US President Donald Trump is again attempting to remove Federal Reserve governor Lisa Cook from her position over mortgage fraud allegations. A White House letter sent on August 5, signed by deputy chief of staff Dan Scavino, informs Cook that she may be removed and gives her 21 days to respond to the charges.
Cook has denied the allegations, which claim that she made false statements on mortgage applications. The US central bank is a non-partisan institution responsible for making monetary policy for the world's largest economy.
Trump's move is the latest in his efforts to undermine the independence of the Federal Reserve. In June, the Supreme Court ruled that Trump did not have the power to dismiss Fed governors 'for any reason or no reason.'