Trump Renews Effort to Remove Fed Governor Lisa Cook Over Mortgage Fraud Allegations

US President Donald Trump is once again attempting to remove Federal Reserve Governor Lisa Cook from her position, this time over mortgage fraud allegations. The move comes after the Supreme Court ruled in June that Trump did not have the power to dismiss Fed governors 'for any reason, or no reason.'

Cook has been given 21 days from August 5 to respond to the allegations, which she has consistently denied. In a statement reported by US media, Cook said: 'This was never about mortgage documents signed years before I became a Federal Reserve governor. It was an attempt to remove me on a manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people.'

The White House letter details the allegations against Cook, asserting that 'at a minimum, this conduct was grossly negligent and demonstrates that you are unfit for the office'. Referencing the Supreme Court's decision, in which judges ruled that Trump had tried to fire Cook without giving her an opportunity to respond to the allegations, the letter demands she do so by August 26.

Democratic Senator Elizabeth Warren labelled the latest attempt to fire Cook as Trump 'once again trying to illegally take over America's central bank'. She added that Democrats would 'fight back to make sure he fails.'