The Trump administration is renewing its efforts to remove Federal Reserve governor Lisa Cook, despite a recent Supreme Court ruling that allowed her to remain in her position while legal challenges are resolved. The White House informed Cook it is considering firing her over allegations of mortgage fraud, claims she denies. Dan Scavino, an aide to President Trump, told Cook there was “sufficient reason to believe that you made false statements on one or more mortgage agreements.” This move follows comments from Cook supporting interest rate hikes.
The initial attempt to remove Cook was paused in June when the Supreme Court ruled it could proceed with a legal resolution. The Financial Times reports this latest action comes after that ruling. No right-leaning outlets reported on this story, and no details have emerged about how Cook will respond to these new allegations. NPR notes that the previous effort to remove Cook centered around similar unproven allegations of mortgage fraud.
The New York Post adds that Cook’s support for raising interest rates appears to be a factor in the renewed push to oust her. CNBC and CBS News confirm the White House is again considering firing Cook, with CBS noting she has been informed of the possibility. PBS Newshour reports the Trump administration is proceeding with these efforts two months after the Supreme Court decision.
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