Trump administration moves ahead with efforts to fire Federal Reserve governor Lisa Cook

The Trump administration is advancing its plan to dismiss Federal Reserve governor Lisa Cook, following a June Supreme Court ruling that allowed her to keep her position during her legal battle against his termination. Previously, the justices in a 5-4 decision stated that Cook, nominated by President Joe Biden, could remain in her role as long as she contests the firing on grounds of mortgage fraud allegations she denies. The administration is currently appealing the lower court's ruling in her favor.

Chief Justice John Roberts noted in his opinion that President Donald Trump could "try again" to fire Cook, as long as he provides her with proper notice and the chance to contest it. After the ruling, Trump vowed to "take appropriate action immediately."

White House aide Dan Scavino informed Cook via letter that Trump was "considering removing you from your position," but he included the Supreme Court’s requirement for proper notice, giving her until August 26 to challenge the decision. Cook has vehemently denied the allegations, asserting that President Trump aimed to replace her due to "manufactured pretext" because she refused to follow political pressure and maintained interest rates for the benefit of the American people.