Trump Targets Fed Governor Over Mortgage Fraud Allegations
President Donald Trump has sent a letter to Federal Reserve Governor Lisa Cook, accusing her of 'gross negligence' in mortgage transactions and threatening to remove her from office. The move revives a long-standing dispute over the central bank's independence.
The three-page letter, signed by White House personnel director Dan Scavino, gives Cook until August 26 to respond to allegations made by the White House. Trump had previously tried to oust Cook in June, but was rebuffed by the Supreme Court in a 5-4 decision.
Cook's lawyer Abbe Lowell called the allegations 'baseless' and said they would continue to challenge any attempt to fire her. The dispute has sparked concerns that a successful push to dismiss Cook could open the door for other governors to be targeted, allowing Trump to nominate more sympathetic replacements.