Trump Revives Effort to Oust Federal Reserve Governor Lisa Cook
US President Donald Trump has renewed his effort to remove Federal Reserve Governor Lisa Cook from her position, rekindling a contentious battle over the independence of America's central bank. The Trump administration seeks Cook's removal due to allegations involving mortgage documents from 2021, before she joined the Federal Reserve in 2022. The president has accused Cook of mortgage fraud, while she denies wrongdoing and her lawyers call the allegations baseless and politically motivated.
The Supreme Court previously ruled 5-4 that Cook could remain in her position while challenging her removal, finding she had not been given the required procedural protections. However, the ruling did not permanently prevent Trump from attempting to remove her again. 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, as she faces a potential second attempt by Trump to oust her from the Federal Reserve.