Trump Targets Federal Reserve Governor Lisa Cook Over Mortgage Fraud Allegations
US President Donald Trump has reignited a major legal and political battle over presidential power and the independence of America's central bank by renewing his effort to remove Federal Reserve Governor Lisa Cook.
The Trump administration is seeking Cook's removal due to 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.
The Supreme Court previously ruled 5-4 that Cook could remain in her position while she challenges her removal, finding that she had not been given the required procedural protections. However, Chief Justice John Roberts indicated that the president could pursue removal if Cook received proper notice and an opportunity to respond.