Trump reportedly renews bid to oust Fed Gov. Lisa Cook

President Donald Trump is reportedly moving forward with a renewed attempt to remove Federal Reserve Gov. Lisa Cook over mortgage fraud allegations. The White House this week sent Cook a letter stating the president is “considering” removing her and demanding she respond to the allegations within three weeks, ABC News reported Friday The letter, reportedly signed by deputy chief of staff Dan Scavino, accuses Cook of “gross negligence” tied to alleged mortgage fraud and argues her conduct undermines her trustworthiness as a Fed governor, even if the conduct does not amount to a crime. The move comes on the heels of a Supreme Court ruling in late June that limited Trump’s ability to summarily fire members of the Fed but left open the door for removal “for cause.” In a 5-4 decision, Chief Justice John Roberts held that Cook was entitled to notice and an opportunity to respond to the charges before any dismissal, emphasizing Congress’s design of the Fed as structurally independent from the White House. Trump responded by signaling on social media that he would “take appropriate action immediately” to ensure “someone who has committed wrongdoing will not be making vital decisions concer...