Trump Threatens to Fire Fed Governor Lisa Cook Again Over Mortgage Allegations

Federal Reserve governor Lisa Cook is facing renewed threats from the Trump administration to fire her over allegations of mortgage fraud, which she denies. The charge has not been proven or considered in court.

Cook's attorneys, Abbe Lowell and Norman Eisen, stated that 'For the second time in a year, we have explained why there is no legal basis for President Trump to remove Governor Cook for cause.' They argue that any errors on her part were unintentional and did not rise to a level that justified her firing.

The White House had given Cook until Wednesday to respond to the allegations. If Trump is able to remove Cook, he could name a replacement and his appointees would gain a majority on the Fed's board.