Trump renews push to fire Fed Governor Lisa Cook
President Trump has renewed his efforts to remove Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud. The move follows a previous Supreme Court ruling that limits the president's power to fire Fed officials without cause.
Why it matters
This conflict highlights ongoing tensions regarding the independence of the Federal Reserve and the limits of executive power over monetary policy institutions.
President Trump is once again threatening to fire Federal Reserve Governor Lisa Cook over unproven allegations of mortgage fraud. The move comes just over a month after the Supreme Court blocked Trump's earlier effort to remove Cook.
Economy Trump keeps pressuring the Fed to cut rates. Here's why its independence matters Deputy White House Chief of Staff Daniel Scavino sent a letter to Cook this week, demanding that she respond to allegations that she made false statements on mortgage applications. Those charges were first raised by Trump ally William Pulte, who oversees mortgage giants Fannie Mae and Freddie Mac.
"Even if your conduct does not rise to the level of felony offense, it appears to demonstrate a level of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator," Scavino wrote.
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