Trump Seeks Second Shot at Ousting Fed Governor Lisa Cook
The Trump administration is renewing its effort to fire Federal Reserve Governor Lisa Cook, despite a Supreme Court setback in June. The court's ruling allowed Cook to remain in her post while her lawsuit challenging the president's attempt to remove her continues.
The White House has sent a letter to Cook informing her that the president is 'considering' removing her from the Federal Reserve Board and demanding she respond to the underlying allegations within three weeks. The allegations date back to last year, when a housing regulator accused Cook of falsifying bank documents to secure favorable mortgage terms.
The Supreme Court's opinion left room for the Trump administration to try again through proper channels, with Chief Justice John Roberts writing in a footnote that nothing prevented Trump from attempting to fire Cook a second time. The White House is seizing on this distinction, vowing to 'take appropriate action immediately.'