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Trump Threatens to Fire Fed Governor Over Mortgage Fraud Allegations

Guavy AI Editorial Team
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President Donald Trump has revived his threat to fire Federal Reserve Governor Lisa Cook over unproven allegations of mortgage fraud. In a letter dated August 4, 2026, Cook was told that Trump is 'considering removing' her and given until August 26 to respond to the White House's accusations.

The move could renew a legal fight over the central bank's independence. The Federal Reserve has long maintained its autonomy from the White House, with governors serving fixed terms to prevent interference by elected officials.

The letter is the latest development in a long-standing feud between Trump and Cook, who was appointed as a governor of the Fed in 2025.

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