White House revives effort to fire Fed Governor Lisa Cook

The White House has informed Federal Reserve Governor Lisa Cook that President Donald Trump is considering removing her from her position, reviving a contentious legal battle over the central bank's independence. In a letter dated Wednesday, August 5, 2026, Deputy Chief of Staff Dan Scavino directed Cook to respond within three weeks to allegations of mortgage fraud, the same claims that prompted Trump's initial attempt to fire her last year.

The letter states there is "sufficient reason to believe" Cook made false statements on mortgage agreements, conduct it alleges could constitute criminal negligence and undermine her trustworthiness as a Fed governor. Cook's attorney, Abbe Lowell, immediately rejected the allegations as "baseless," vowing to challenge what he called a "pretext" to remove her. The Federal Reserve declined to comment on the development.

This action follows a landmark Supreme Court ruling in late June that blocked Trump from firing Cook while her lawsuit challenging the dismissal proceeds. In a 5-4 decision, the court found the president had failed to afford Cook the procedural protections required by statute, thereby safeguarding the Federal Reserve's...