Trump Tries Again to Oust Fed Governor Lisa Cook Over Mortgage Fraud Allegations
The Trump administration is attempting to fire Federal Reserve governor Lisa Cook for a second time after the Supreme Court allowed her to retain her job while she fights the president's effort to terminate her over mortgage fraud allegations. The justices in a 5-4 decision in June said Cook, who was nominated to the Fed's Board of Governors by President Joe Biden, could remain in her post at least as long as her lawsuit challenging her firing goes on.
The Trump administration is appealing a lower-court ruling in Cook's favor and has sent her a letter indicating that she may be removed from her position. The letter cites the Supreme Court's requirement of proper notice, giving her until August 26 to challenge it.
Cook has aggressively defended herself against the allegations, saying the president had attempted to oust her 'on a manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people.'