Trump Targets Fed Again, Demands Cook Respond to Mortgage Allegations

President Donald Trump has launched another attempt to seize control of the Federal Reserve, sending a letter to Fed member Lisa Cook demanding that she respond to allegations of mortgage fraud.

Cook is a Joe Biden appointee and was previously targeted by Trump in his first attempt to fire her from the Fed's board. The Supreme Court ruled against Trump's initial move, but its decision was criticized for being unclear and leaving room for future attempts by the President to exert control over the Fed.

The unitary executive theory, which holds that the president must have full control over federal agencies, is at the heart of the issue. This theory has been endorsed by the Supreme Court's Republican majority in several cases, but its implications for the Federal Reserve are unclear and potentially contradictory.