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[BUSINESS] · United States · 54 sources

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Lisa Cook: Trump renews attempt to fire Federal Reserve Governor

The Trump administration has renewed its attempt to remove Federal Reserve Governor Lisa Cook from her position, following a June Supreme Court ruling that blocked a previous dismissal attempt on procedural grounds. In a letter signed by White House Deputy Chief of Staff Dan Scavino, the administration notified Cook that the President is considering her removal and provided her with 21 days, until August 26, to respond to allegations of mortgage fraud.

The allegations, originally raised by Federal Housing Finance Agency Director Bill Pulte, claim that Cook improperly listed two different properties—one in Ann Arbor, Michigan, and one in Atlanta, Georgia—as her primary residence to obtain more favorable mortgage terms. Cook and her legal team have vehemently denied the claims, describing them as baseless and a manufactured pretext intended to interfere with the Federal Reserve's independence and political influence over monetary policy.

Under federal law, Federal Reserve governors can only be removed "for cause." The administration argues that the alleged financial misconduct undermines Cook's trustworthiness as a regulator, while legal experts and Cook's counsel contend the allegations do not meet the legal standard for removal. This ongoing conflict highlights significant tensions regarding the independence of the nation's central bank from executive branch influence.

Entities

Abbe D. Lowell · Bill Pulte · Dan Scavino · Donald J. Trump · Donald Trump · Federal Reserve · John Roberts · Lisa Cook · U.S. Supreme Court · United States Supreme Court

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