Trump Seeks to Oust Fed Governor Amid Mortgage Fraud Allegations

US President Donald Trump has renewed his bid to remove Federal Reserve Governor Lisa Cook from her position, sparking a contentious battle over presidential power and the independence of the central bank. The move comes after allegations surfaced that Cook was involved in mortgage fraud prior to joining the Federal Reserve in 2022.

The Trump administration accuses Cook of wrongdoing, while she maintains her innocence, calling the allegations 'baseless' and 'politically motivated'.

In a previous ruling, the Supreme Court found that Cook could remain in her position pending removal proceedings. However, Chief Justice John Roberts indicated that Trump could still pursue removal if Cook receives proper notice and an opportunity to respond.

Cook's deadline to respond is August 26, leaving the fate of her tenure at the Federal Reserve uncertain.