Trump mounts new effort to fire Fed's Lisa Cook after Supreme Court ruling
Summary
President Donald Trump is trying again to remove Lisa Cook from the Federal Reserve Board of Governors over accusations of mortgage fraud. The Supreme Court blocked his first attempt because he did not give her proper notice or chance to respond, but now the White House has formally notified her and set a deadline for her reply.Key Facts
- Lisa Cook is a member of the Federal Reserve Board of Governors.
- President Trump wants to fire her due to allegations of making false statements on mortgage agreements.
- The Supreme Court stopped Trump's first firing attempt, saying Cook deserved proper procedure before removal.
- The White House gave Cook a deadline of August 26 to respond to the allegations.
- The accusations come from Bill Pulte, a Trump housing official, who sent a criminal referral last year.
- Cook denies wrongdoing and has not been charged with a crime.
- The Supreme Court ruled that the President cannot remove a Fed governor without "cause," protecting the Fed from political interference.
- Chief Justice Roberts and four others formed the majority in the Supreme Court decision supporting Cook’s protections.
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