Trump Renews Threat to Remove Fed Governor Lisa Cook
President Trump is again trying to remove Federal Reserve Governor Lisa Cook. This comes two months after the Supreme Court blocked his earlier attempt.
Trump wants to fire Cook over unproven mortgage fraud claims. Cook denies the claims.
Reports say the White House gave Cook 21 days to respond. In June the Supreme Court ruled Cook could stay in her job.
This was while the case was being resolved. The ruling did not settle the mortgage fraud claims.
Trump also wants to add more allies to the Federal Reserve's board. This is part of his bigger effort to remove Cook.
Klear Note — The Federal Reserve sets national monetary policy, including interest rates.
Key Terms 3
- Federal Reserve The US central bank that controls interest rates and money supply.
- Federal Reserve Governor A top official who helps make decisions at the Federal Reserve.
- Supreme Court The highest court in the United States.