Trump Renews Push to Remove Fed Governor Lisa Cook
By Business Desk
President Trump is reportedly attempting to remove Federal Reserve Governor Lisa Cook again, citing ‘gross negligence’ despite prior Supreme Court block.
US President Donald Trump is reportedly making a renewed attempt to remove Federal Reserve Governor Lisa Cook, despite a previous Supreme Court ruling in June that blocked his initial effort.
According to ABC News, citing sources familiar with the matter, the White House dispatched a letter to Governor Cook this week. This communication explicitly states that the president is “considering” her removal from office and demands a formal response within three weeks.
Justification for Removal
The administration’s basis for this action rests on an accusation of “gross negligence” against Cook. These allegations are rooted in unproven claims of mortgage fraud that reportedly occurred prior to her tenure at the Federal Reserve.
Governor Cook has consistently denied these allegations, which underpin the administration’s stated justification for her potential dismissal. The previous Supreme Court decision in June had previously prevented a similar attempt to remove her.
This ongoing situation highlights the persistent tension between the executive branch and the independence of key financial institutions.