Trump Attempts to Fire Federal Reserve Governor Lisa Cook

Donald Trump is reviving efforts to remove Federal Reserve Governor Lisa Cook, the first Black woman to serve in the role. The White House sent a letter on Wednesday, signed by Deputy Chief of Staff Dan Scavino, stating the president is considering her removal based on allegations that Cook committed mortgage fraud by making false statements on loan agreements for properties listed as primary residences.

This move follows a June Supreme Court ruling that blocked a previous attempt to oust Cook. In a 5-4 decision, the court upheld a lower court's block on her firing but noted that the president could attempt removal if he followed proper due process. The administration now claims Cook's conduct constitutes gross negligence, and she has been given 21 days to respond to the allegations.

Lawyers for Cook, including Abbe Lowell, have dismissed the claims as baseless and a pretext to interfere with the independence of the Federal Reserve due to differences in monetary policy. Cook's term is currently set to end in 2038.