President Donald Trump is renewing his attempt to remove Lisa Cook from the Federal Reserve, according to a letter from the White House obtained by MS NOW.
The letter to Cook, dated Aug. 5, states that Trump “is considering removing you from your position on the Board of Governors of the Federal Reserve due to there being sufficient reason to believe that you made false statements on one or more of your mortgage agreements.”
The letter was first reported by ABC News.
Cook’s lawyer, Abbe Lowell, said in a statement that the allegations of mortgage fraud “are as baseless now as they were a year ago” when Trump first tried to remove Cook.
“No matter what President Trump tries to do next, this much is clear under the facts and Supreme Court precedent — there is no valid cause for removing Governor Cook,” Lowell said. “As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed.”
Trump’s latest attempt at pushing Cook out of the central bank comes weeks after the Supreme Court blocked him in June from immediately firing her. Days later, the president indicated to CNBC that he would continue to try to remove Cook.
Trump had also waged an aggressive campaign to pressure then-Federal Reserve Chairman Jerome Powell to lower interest rates to no avail. Powell was subsequently replaced by Kevin Warsh, who had said during his confirmation hearing that he would not capitulate to Trump’s demands to bring down interest rates.
The letter to Cook points to a criminal referral from Bill Pulte, director of the Federal Housing Finance Agency, to the Justice Department from August 2025, alleging that Cook had committed mortgage fraud by listing two of her homes in different states as a primary residence in an alleged attempt to obtain a lower interest rate for her loans.
“There is a distinct nexus between the basic level of trustworthiness and care in financial matters and the duties of a Member of the Board of Governors,” the letter read. “Because the allegations in the Criminal Referral reflect on your honesty, trustworthiness, and competence to perform the duties of the office you currently hold, the President has determined that there is reason to believe they constitute cause to remove you from your position on the Board of Governors of the Federal Reserve.”
This is a developing story. Please check back for updates.
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