Trump's Bid to Fire Fed Governor Cook Fails Again Amid Mortgage Fraud Allegations
Lawyer Abbe David Lowell defended Federal Reserve Governor Lisa Cook against accusations of mortgage fraud made by US President Donald Trump. In a letter to the White House, Lowell said there are no grounds for dismissal and that the allegations rely on 'untried and unproven' claims. The Federal Housing Finance Agency director William Pulte first levelled the accusations a year ago, which were then amplified by Trump.
Cook denied any wrongdoing, calling the allegations a pretext to remove her from her role due to monetary policy differences. She sued to keep her job and was supported in a 5-4 Supreme Court ruling that protects Fed officials from being fired at will by a president. The case is still ongoing with a lower court reviewing the matter.
Trump has repeatedly tried to fire Cook, who is the first Black woman to serve as a Fed governor, and would be able to install a replacement sympathetic to his views if he succeeded. Lowell pointed out that Trump and other administration members have made similar mistakes in the past, which further undercuts any notion that Cook's actions are grounds for removal.