Trump renews effort to remove US Fed governor Lisa Cook

In a bid to remove Federal Reserve Governor Lisa Cook, US President Donald Trump has written a letter to her on August 5, informing her that he is considering her removal from the position. The White House letter, seen by AFP, demands that Cook respond within 21 days to allegations of making false statements on mortgage applications, charges she denies.

This is the first time a US president has attempted to dismiss a Fed governor, a move that marks an unprecedented assault on the central bank's independence. Trump's actions come after the Supreme Court ruled in June that he lacked the authority to dismiss Fed governors "for any reason, or no reason". The court emphasized the importance of the Fed's independence, stating its decision was based on the procedural protections afforded to Cook under statute, not the underlying allegations.

Cook, the first Black woman to serve as a Fed governor, has consistently denied the allegations against her. She maintains that her dismissal attempt was not about her past mortgage documents, but rather an attempt to remove her due to political pressure and her refusal to bow to it. Democratic Senator Elizabeth Warren has criticized Trump, claiming he is once again attempting to illegally take control of America's central bank, a stance she believes Democrats will fight against.