TRUMP REVIVES EFFORT TO REMOVE FEDERAL RESERVE GOVERNOR COOK

President Donald Trump is "considering" firing Federal Reserve Board Governor Lisa Cook, the White House announced this week. White House deputy chief of staff Dan Scavino sent Cook a letter dated Wednesday stating there was "sufficient reason to believe" she had made false statements on mortgage agreements. Scavino instructed Cook to provide an explanation for the alleged statements within three weeks, citing the Supreme Court's recent opinion on the matter. The move revives an effort Trump initiated last year, which the courts had previously blocked.

Trump first attempted to remove Cook in 2025 on the same mortgage fraud allegations. Cook denied the charges and filed a lawsuit challenging her dismissal. A federal court blocked Trump from firing her whilst her lawsuit was pending. The Supreme Court ruled 5-4 in late June upholding that decision and blocking Trump's initial removal attempt. However, Chief Justice John Roberts noted that the court's ruling did not prevent Trump from attempting to remove Cook again over the same allegations, provided additional procedural steps were taken to protect her Constitutional due process rights.

Cook's attorney Abbe Lowell stated the allegations "are as baseless now as they were a year ago" and characterised the new effort as an attempt to "interfere with the independence of the Federal Reserve." According to reports, the removal effort is part of a broader strategy by Trump to reshape the Federal Reserve's board with appointees aligned with his positions.