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Trump revives effort to fire Fed's Lisa Cook
CNBC • • nation
Key Points:
- President Donald Trump is "considering" firing Federal Reserve Board Governor Lisa Cook, citing allegations of false statements on mortgage agreements, according to a White House letter from aide Dan Scavino.
- Cook denied the allegations and previously filed a lawsuit challenging her dismissal; a federal court blocked her firing, a decision upheld by the Supreme Court in June.
- The Supreme Court ruled that Trump could attempt to remove Cook again but must follow procedures to protect her Constitutional due process rights.
- Scavino's letter requests Cook provide an explanation and evidence regarding the allegations within three weeks, acting in line with the Supreme Court's guidance.
- Cook's lawyer called the allegations baseless and vowed to challenge any new removal attempt to protect her position and the Federal Reserve's independence.
