A White House letter gave Fed Governor Lisa Cook 21 days to respond to allegations that she made false statements in one or more mortgage agreements|Brookings Institution|CC BY-NC-ND 2.0
President Donald Trump has reignited efforts to oust Federal Reserve Governor Lisa Cook, with the White House sending her a letter that said it was “considering” removing her from the position.
The letter, signed by the deputy chief of staff, Dan Scavino, gave Cook 21 days to respond to allegations that she made false statements in one or more mortgage agreements.
Trump previously gave the same reason for seeking Cook’s removal, which she has denied; however, the Supreme Court in June granted her the right to contest the removal and remain in her position through 2038.
White House officials argue Cook’s actions demonstrate gross negligence, but her legal team maintains there is no valid cause for removal and vows to challenge the move to protect Fed independence.