Trump revives effort to fire Fed's Lisa Cook
Trump aide Dan Scavino told Cook there is "sufficient reason to believe that you made false statements on one or more mortgage agreements."
President Donald Trump is reportedly contemplating the firing of Federal Reserve Board Governor Lisa Cook, reigniting an effort that was previously halted by the Supreme Court in June. White House aide Dan Scavino informed Cook via letter that there is "sufficient reason to believe that you made false statements on one or more mortgage agreements," echoing the allegations made when Trump first attempted to remove Cook from the central bank last year.
Cook has denied these charges and filed a lawsuit against her dismissal, which a federal court temporarily blocked until her case was resolved. The Supreme Court, in a 5-4 decision, upheld the court's previous ruling in June, but Chief Justice John Roberts clarified that this did not prevent Trump from attempting to remove Cook again, citing additional procedural steps necessary to safeguard her constitutional due process rights.
Scavino stated that the letter was sent "pursuant to the Supreme Court's opinion." Cook's legal representative, Abbe Lowell, described the allegations as "baseless" and emphasized that no valid cause exists for her removal, asserting that they will continue to challenge the latest attempt and protect Cook's position and the Federal Reserve's independence.
In the initial attempt to fire Cook, Trump pressured the Fed to reduce interest rates, and the allegations were brought forth by Federal Housing Finance Agency Director Bill Pulte, who has been accused of targeting political adversaries.
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