Trump moving forward with attempt to fire Lisa Cook after SCOTUS setback: Sources
Summary
President Donald Trump is trying to remove Lisa Cook from the Federal Reserve Board based on unproven allegations of mortgage fraud. The Supreme Court ruled that Cook must be given notice and a chance to respond before any removal, but Trump has started the formal process to fire her.Key Facts
- Lisa Cook is a member of the Federal Reserve Board of Governors.
- President Trump wants to remove her due to allegations of mortgage fraud, which have not been proven in court.
- The Supreme Court decided in June that the president must notify Cook and allow her to reply before removing her "for cause."
- The Court did not decide if the fraud allegations are true or false.
- After the ruling, Trump said he would act quickly to remove Cook.
- The White House sent Cook a letter asking her to respond to the allegations within three weeks.
- Cook denies any wrongdoing and says the claims are baseless.
- Cook was confirmed to the Federal Reserve Board after a tied Senate vote broken by Vice President Kamala Harris.
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