The Trump administration is pressing forward with efforts to remove Federal Reserve Governor Lisa Cook, following a Supreme Court decision that established new parameters for such dismissals. Cook received formal notification from the White House this week indicating the administration is evaluating her removal based on mortgage fraud allegations.
The move comes months after the high court's June ruling that reinforced the Federal Reserve's institutional independence while outlining a process for presidential removal of board members. The justices' decision established that while presidents retain removal authority, such actions must follow specific procedures and meet defined standards.
Trump initially leveled the mortgage fraud allegations against Cook last summer as part of a broader effort to reshape the Federal Reserve's leadership. The White House's latest communication appears designed to comply with the Supreme Court's framework while maintaining pressure on Cook's position.
The development signals the administration's determination to pursue personnel changes at the central bank despite legal constraints on executive authority. Cook has denied the fraud allegations previously raised against her.
Reporting based on Guardian US.
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