Trump tries again to fire Fed governor Lisa Cook after narrow Supreme Court decision, renewing battle over central bank independence

The Trump administration is persisting in its attempts to dismiss Federal Reserve governor Lisa Cook, following a recent Supreme Court ruling that allowed her to retain her position while she challenges the president's firing allegations of mortgage fraud. The Supreme Court, in a 5-4 decision in June, stated that Cook could continue her role at least until her lawsuit against her termination proceeds.

The administration is now appealing the lower court's ruling in her favor. Supreme Court Chief Justice John Roberts, in a footnote, noted that President Donald Trump can "try again" to fire Cook, provided she is given the requisite notice and the chance to contest the decision. Trump had expressed his intention to act on this following the Supreme Court's opinion.

According to a letter from White House aide Dan Scavino, obtained by The Associated Press, Trump is currently "considering removing you from your position" but has given her until August 26 to challenge the decision. Cook has vehemently defended herself against the accusations, asserting that President Trump aimed to remove her based on a "manufactured pretext because I refused to bow to political pressure and continued to set interest rates based only on what would best serve the American people."

Her legal team, Abbe Lowell, argued in a November letter that Cook has primarily resided at her Ann Arbor property since purchasing it in 2005, and it was correct for her to label it her "primary residence" in a June 2021 mortgage refinance application. Lowell stated in a subsequent letter that the isolated notation in a July 2021 document was not indicative of any intent to defraud.

The White House letter largely echoes the allegations from a year ago, emphasizing that "these allegations are as baseless now as they were a year ago" and vowing to challenge the latest attempt to remove Cook, preserving her position and the Federal Reserve's independence.