Trump revives threat to fire Fed Governor Lisa Cook

President Trump is taking another run at removing Federal Reserve Governor Lisa Cook, this time armed with a formal process the Supreme Court essentially drew up for him. The White House sent Cook a letter on August 5 notifying her that the president is considering her removal, citing allegations of mortgage fraud tied to property applications in Georgia and Michigan. Cook has 21 days to respond. She has denied the allegations and signaled she has no plans to resign. Round two, with paperwork This isn’t Trump’s first attempt to oust Cook. He initially moved to remove her back in August 2025, a decision that triggered an immediate legal fight and eventually landed before the Supreme Court. The justices issued their ruling on June 29, and while the decision’s full implications are still playing out, the court made one thing clear: if the president wants to fire a Fed governor, there’s a procedural playbook to follow. That playbook includes proper notice and an opportunity for the targeted official to respond. The latest letter appears designed to check those boxes. The allegations at the center of the notice involve mortgage applications Cook reportedly submitted around 2021. The Whi...