Global Markets
Home›Global Markets›Trade & Tariffs›Trump renews push to remove Fed Governor Lisa Cook
Trump renews push to remove Fed Governor Lisa Cook
The White House letter gave Cook three weeks to respond to mortgage fraud allegations, which her lawyer called baseless.
US President Donald Trump is renewing his effort to remove Federal Reserve Governor Lisa Cook, according to a letter seen by Reuters. The push revives conflict over central bank independence after the US Supreme Court in June dealt Trump a setback in an earlier attempt to remove her.
Reuters reported that the White House told Cook she was being considered for removal and demanded she respond to mortgage fraud allegations within three weeks. Cook’s lawyer said the allegations are baseless and that there is no valid cause for removing her from the role.
The letter, signed by Deputy Chief of Staff Dan Scavino, also alleged conduct that could be punishable by up to 30 years in prison and described negligence that it said called Cook’s trustworthiness into question.
Cook’s lawyer, Abbe D. Lowell, said they will challenge the latest attempt and preserve Cook’s position and the Fed’s historic role, Reuters added, as Trump has also restarted other efforts that the Supreme Court previously blocked.