FX.co ★ Donald Trump renews efforts to remove Fed’s Cook

President Donald Trump has launched a fresh bid to remove Federal Reserve Governor Lisa Cook, sending her an official notice demanding a response within three weeks to unproven allegations of mortgage fraud, according to ABC News. The document, reportedly signed by Deputy Chief of Staff Dan Scavino, accuses Cook of gross negligence in handling mortgage applications before her tenure at the central bank. Administration officials argue the claims undermine her fitness to serve as a monetary policy regulator.

The latest push follows a June Supreme Court ruling that narrowly blocked Cook's immediate removal, shielding the Fed's historic independence from executive overreach. Chief Justice John Roberts, however, left the White House a legal opening, ruling that dismissal "for cause" is permissible if Cook receives formal notification and a chance to respond. The conflict traces back to last year, when Federal Housing Finance Agency Director Bill Pulte initiated a Justice Department probe into Cook's loan applications.

Trump's first attempt to fire Cook last August coincided with his aggressive campaign to pressure the central bank into easing monetary policy, though lower courts ultimately froze that order. Cook and her attorney, Abbe Lowell, have vehemently denied all allegations, dismissing them as a politically motivated pretext. According to press reports, her legal team is preparing to challenge Trump's latest maneuver in federal court, where judges will now decide whether a decades-old mortgage history can justify removing a sitting Fed governor.