Trump Asks Supreme Court To Allow Removal Of Fed Governor Lisa Cook Amid Ongoing Lawsuit Over Alleged Mortgage Fraud Claims

Trump asked the Supreme Court to let him remove Federal Reserve governor Lisa Cook while litigation over her firing proceeds, according to The Wall Street Journal. A federal appeals court had blocked Trump’s attempt earlier this week, ruling that Cook was likely to succeed on her claim that she wasn’t given due process. Solicitor General John Sauer argued mortgage fraud allegations provide sufficient cause for dismissal, while Cook’s attorneys said removing her would threaten the Fed’s independence and roil markets. Cook sued Trump last month, alleging the firing is a pretext to fill her seat and pressure the Fed to cut interest rates. The Justice Department is investigating the mortgage allegations, though Cook has not been charged.