Trump's Fed Fight Revived: Cook Faces Removal Threat Over Mortgage Fraud Allegations
US President Donald Trump's administration has renewed its effort to remove Federal Reserve Governor Lisa Cook over mortgage-fraud allegations. The move revives a previous attempt that was blocked by the US Supreme Court in May, which had ruled that Cook was entitled to notice and an opportunity to respond.
The new letter, signed by longtime Trump aide Dan Scavino on August 5, gives Cook until August 26 to respond before any final decision on her removal is made. The administration claims the alleged mortgage conduct constitutes 'cause' for removal and has undermined public confidence in the Federal Reserve.
Cook's lawyers have rejected the allegations, describing them as 'baseless.' They argue that Trump is seeking to interfere with the Federal Reserve's independence and will challenge what they describe as the administration's latest 'pretext.'