Trump Targets Fed Governor Over Mortgage Allegations
US President Donald Trump has renewed his effort to remove Federal Reserve Governor Lisa Cook from her position, reigniting a major legal and political battle over presidential power and the independence of America's central bank.
The Trump administration is seeking Cook's removal based on allegations involving mortgage documents from 2021, before she joined the Federal Reserve in 2022. Trump has accused Cook of mortgage fraud, while Cook denies wrongdoing and her lawyers have called the allegations baseless and politically motivated.
Despite a previous Supreme Court ruling that allowed Cook to remain in her position while she challenges her removal, Trump's administration is now seeking to remove her again with proper notice and an opportunity for Cook to respond. Cook's deadline to respond is August 26.