President Trump is reviving his attempt to remove Federal Reserve Governor Lisa Cook, pressing her to respond to allegations of mortgage fraud that Cook has called baseless, potentially sparking a fresh legal battle over Fed independence.
President Trump has repeatedly called Federal Reserve Chairman Kevin Warsh to chat, renewing questions about the independence of the central bank. Trump publicly stated rates should drop but acknowledged it's not entirely Warsh's decision alone.
The US Supreme Court refused to allow President Trump to immediately fire Federal Reserve Governor Lisa Cook, preserving the central bank's independence. However, the court did grant Trump broader authority to fire heads of most other independent agencies.
The Supreme Court ruled that President Donald Trump cannot fire Federal Reserve Governor Lisa Cook, marking the first time a president has attempted to remove a Fed board member. However, in a separate ruling, the Court expanded presidential authority to fire heads of other independent federal agencies.
