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The White House notified Cook this week it was "considering" removing her, giving her three weeks to respond to unproven mortgage fraud allegations
Lisa Cook, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024. (Al Drago/Bloomberg via Getty Images)
President Donald Trump is moving forward with a new effort to remove Federal Reserve Board Governor Lisa Cook from her position, reviving mortgage fraud allegations that courts have so far rejected as a basis for her dismissal. According to ABC News, a White House letter delivered to Cook this week indicated that Trump was "considering" her removal and gave her three weeks to answer the allegations.
The letter, attributed by ABC News to Deputy Chief of Staff Dan Scavino, charged Cook with mortgage-related crimes punishable by as much as 30 years in prison. Scavino contended that Cook's behavior showed a level of negligence incompatible with service on the Fed's board, regardless of whether it rose to the level of criminal conduct.
