White House revives unprecedented effort to remove Fed governor Lisa Cook

Axios reports the Trump administration has sent Federal Reserve Governor Lisa Cook a letter giving her until August twenty-sixth to respond to mortgage fraud allegations. This is Trump's second attempt to remove her — the Supreme Court previously blocked his first effort, ruling that Cook hadn't been given notice or opportunity to respond. The new letter is designed to satisfy those Supreme Court requirements. The White House says the alleged conduct constitutes cause for removal and undermines public confidence in the Federal Reserve. Cook's lawyers call the allegations baseless and say they will challenge this removal attempt, just as they did the first.

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