Trump tries again to fire Fed governor Lisa Cook, renewing battle over central bank independence

The Trump administration is moving ahead with its efforts to fire Federal Reserve governor Lisa Cook, two months after the Supreme Court allowed her to retain her job while she fights the president’s effort to terminate her over mortgage fraud allegations that she has denied.

The justices in a 5-4 decision in June said Cook, who was nominated to the Fed’s Board of Governors by President Joe Biden, could remain in her post at least as long as her lawsuit challenging her firing goes on. The Trump administration is appealing a lower-court ruling in Cook’s favor.

Supreme Court Chief Justice John Roberts wrote in a footnote in his opinion that nothing forbids President Donald Trump from “trying again” to fire Cook provided she is given proper notice and a chance to contest it. Trump indicated after the opinion that he would do just that, vowing to “take appropriate action immediately.”