{
  "id": 301507,
  "title": "Trump renews bid to fire Fed governor Lisa Cook despite supreme court ruling",
  "url": "https://urgent.news/2026/08/07/trump-renews-bid-to-fire-fed-governor-lisa-cook-despite-supreme-court",
  "topic": "world",
  "section": "World",
  "published": "2026-08-07T18:47:25.000Z",
  "source": {
    "name": "Guardian Business",
    "slug": "guardian-business",
    "url": "https://www.theguardian.com/business/2026/aug/07/trump-lisa-cook-fed-firing-scotus-ruling"
  },
  "original_language": "en",
  "account": "Despite a recent United States Supreme Court ruling upholding the Federal Reserve's independence, President Donald Trump is once again attempting to remove its governor, Lisa Cook, over allegations of mortgage fraud. In a letter to Cook, the White House stated that Trump is \"considering removing\" her from her Fed position based on the same claims of mortgage fraud he made against her last summer. Cook received the notice, which demanded she respond in writing to the allegations within three weeks.\n\nThe Supreme Court ruled in June that Cook was entitled to remain in her position while she fights the president's allegations, stating that Trump \"failed to afford Cook the procedural protections to which she was entitled by statute.\" The justices emphasized that without these protections, she could not adequately dispute the charges the president levied against her.\n\nCook's legal representative, Abbe D. Lowell, called the allegations \"as baseless now as they were a year ago.\" He stressed that there is no valid cause for removing Cook, as per the facts and Supreme Court precedent. Cook, appointed by President Biden in 2022 for a 14-year term, is the first Black woman to serve as a Fed governor. Before joining the Fed, she served on Barack Obama's council of economic advisers and had taught at Harvard University and Stanford University.\n\nTrump first fired Cook in August, accusing her of misidentifying her primary residence and mishandling rental income reporting. Cook denied the allegations and sued the administration for wrongful termination. The allegations appeared to coincide with Trump's criticism of the Fed for refusing to lower interest rates. Cook and then-Fed Chair Jerome Powell supported the central bank's decision not to cut rates, which provoked the White House. Trump labeled Powell \"too stupid and too political\" and initiated a justice department investigation into renovations of the Fed's headquarters in Washington, which was later dropped.\n\nCurrently, the Fed is led by Kevin Warsh, a Trump appointee who has pledged to make decisions based on economic data rather than the president's wishes. Warsh aims to tackle the country's high inflation, typically addressed through interest rate hikes, while emphasizing that the Fed remains an independent institution.",
  "summary": "US President Donald Trump is attempting to remove Federal Reserve Governor Lisa Cook from her position, despite a recent Supreme Court decision that upheld the central bank's independence. According to a letter from the White House, dated August 5, and signed by deputy chief of staff Dan Scavino, Trump is \"considering\" removing Cook over allegations of mortgage fraud.\n\nCook has consistently denied these allegations, and has been given 21 days from the date of the letter to respond. This is not the first time Trump has tried to remove Cook; his previous attempt was thwarted by the Supreme Court in June, which ruled that Trump did not have the power to dismiss Fed governors for any reason, or no reason.\n\nThe move to dismiss Cook was the first such attempt by a president in the US central bank's 111-year history. The Federal Reserve is a non-partisan institution that makes monetary policy for the world's largest economy, with governors appointed by the president after a Senate confirmation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Trump revives effort to fire Fed's Lisa Cook",
        "url": "https://urgent.news/2026/08/07/trump-revives-effort-to-fire-feds-lisa-cook-276179",
        "published": "2026-08-07T18:38:17.000Z"
      },
      {
        "outlet": "The Guardian US",
        "title": "Trump renews bid to fire Fed governor Lisa Cook despite supreme court ruling",
        "url": "https://urgent.news/2026/08/07/trump-renews-bid-to-fire-fed-governor-lisa-cook-despite-supreme-court-313202",
        "published": "2026-08-07T18:47:25.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}