Trump Targets Fed Governor Again Over Mortgage Fraud Allegations
Federal Reserve Governor Lisa Cook is facing renewed threats from the Trump administration to be removed from her position. Cook's attorneys stated that there is no legal basis for President Trump to remove her, citing a Supreme Court ruling from last year.
The White House had given Cook until Wednesday to respond to allegations of mortgage fraud, which she denies. Officials in the Trump administration have accused Cook of declaring two homes as 'primary residences' in mortgage applications, but Cook claims any errors were unintentional and did not rise to a level that justified her firing.
Cook's attorneys argued that these attacks on her are an attempt by President Trump to force the Federal Reserve to bend to his will. If Trump is able to remove Cook, he could name a replacement and gain a majority on the Fed's board.