Trump Revives Bid to Oust Fed Governor Over Mortgage Allegations

President Trump has revived his bid to fire Federal Reserve Governor Lisa Cook after being rebuffed by the Supreme Court in June. The White House sent a letter to Cook on Wednesday, citing 'sufficient reason' to believe she made false statements on mortgage agreements. Cook is given three weeks to respond and provide evidence.

Cook's attorney, Abbe Lowell, vowed another court fight, calling the allegations 'baseless.' Trump initially demanded Cook's resignation in August 2023, but she refused and sued after he purportedly fired her for cause. The Supreme Court ruled that a president's determination of 'cause' is not beyond judicial scrutiny.

The showdown is part of a broader battle between Trump and the Fed over the central bank's independence and the president's demands for easier monetary policy. Cook has denied wrongdoing and warned that she could back an interest rate hike if inflation fails to ease.