President Donald Trump renewed his efforts this Friday to dismiss Federal Reserve Governor Lisa Cook, who was targeted during the administration of Democrat Joe Biden, after the Supreme Court ruled that she could keep her position.
The deputy chief of staff sent a letter to Cook informing her that Trump is considering removing her from her position for committing mortgage fraud. The document, as detailed by Fox News, gives the central bank governor 21 days to defend herself against the accusations.
In June, the Supreme Court ruled that Trump cannot remove Cook from her position. The chief justice of the court, John Roberts, wrote the majority opinion and voted alongside the three liberal justices and conservative Brett Kavanaugh in favor of the governor, while Justice Clarence Thomas expressed his dissent joined by three other members of the Court.
The Supreme Court saved Cook's position in June
The details of the case
The Attorney General of the Department of Justice, John Sauer, noted in his petition to the Court that lower courts have interfered with the president's authority to remove members of the Board of Governors of the Federal Reserve for cause.
Lisa Cook owns three properties and allegedly committed mortgage fraud by lying on her mortgage application and falsifying bank statements when she designated her out-of-state condominium in Atlanta as her "primary residence" to obtain tax benefits. Two weeks later, the Democrat took out a loan for her home in Michigan, which she also claimed as her "primary residence."
The Housing Director, Bill Pute, referred the case to Justice recommending that criminal charges be brought against the banker. Strangely, Cook's lawyers asked the Court to keep her in her position because otherwise an inflationary crisis would ensue if her dismissal were allowed.
