Trump renews push to fire Fed Governor Lisa Cook
Trump is once again threatening to fire Cook over unproven allegations of mortgage fraud after an earlier effort to remove Cook was struck down by the Supreme Court. (Image credit: Kevin Dietsch)
Trump is once again threatening to fire Cook over unproven allegations of mortgage fraud after an earlier effort to remove Cook was struck down by the Supreme Court.
(Image credit: Kevin Dietsch)
President Trump has once again warned Fed Governor Lisa Cook that he wants to remove her from the central bank's governing board, over untested allegations of mortgage fraud. An earlier effort to fire Cook was blocked by the Supreme Court. Kevin Dietsch/Getty Images North America hide caption
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Deputy White House Chief of Staff Daniel Scavino sent a letter to Cook this week, demanding that she respond to allegations that she made false statements on mortgage applications. Those charges were first raised by Trump ally William Pulte, who oversees mortgage giants Fannie Mae and Freddie Mac.
"Even if your conduct does not rise to the level of felony offense, it appears to demonstrate a level of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator," Scavino wrote.
"These allegations are as baseless now as they were a year ago when President Trump tried to remove Governor Cook and interfere with the independence of the Federal Reserve," Cook's attorney Abbe Lowell said in a statement. "There is no valid cause for removing Governor Cook. As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed."