Trump Targets Fed Governor in Mortgage Fraud Probe

US Federal Reserve Chair Kevin Warsh may soon face his first major test as President Donald Trump considers ousting Fed Governor Lisa Cook for a second time. The White House gave Cook 21 days to respond to unproven allegations of mortgage fraud, which Trump's administration claims are sufficient grounds for removal from her position.

Peter Conti-Brown, a Wharton professor and historian of the Federal Reserve, believes that Warsh's handling of this situation will determine his legacy as Fed Chair. If Warsh fails to stand up to Trump's actions, he may be seen as 'the worst Fed Chair in its history.'