Trump Tries to Fire Fed Governor Lisa Cook Again Over Mortgage Allegations
US President Donald Trump is attempting to remove Federal Reserve Governor Lisa Cook from her position over mortgage fraud allegations, despite the Supreme Court's June ruling that he did not have the power to do so.
The White House sent a letter to Cook on August 5, stating that Trump is considering removing her and giving her 21 days to respond to the allegations. The allegations claim that Cook made false statements on mortgage applications, which she has denied.
Cook was appointed to the Fed in 2022 and is the first Black woman to serve as a governor. She has consistently denied the allegations against her, stating that they are an attempt to remove her from office due to her refusal to bow to political pressure.
Trump has launched an unprecedented assault on the independence of the Federal Reserve in his second term, opening a criminal probe against former chairman Jerome Powell and attempting to fire Cook. The move to dismiss Cook was the first such attempt by a president in the Fed's 111-year history.