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Donald Trump renews effort to fire Federal Reserve governor Lisa Cook

العالم
Al Jazeera English
2026/08/07 - 23:40 501 مشاهدة
تحليل ذكي | AI Editorial Analysis

Donald Trump has renewed efforts to remove Federal Reserve Governor Lisa Cook, the first Black woman in that role.

The White House sent Cook a letter alleging mortgage fraud and threatening her position, giving her three weeks to respond.

Trump’s campaign to oust Cook is unprecedented, as no president has previously attempted to dismiss a Federal Reserve governor since its establishment.

play Live Sign upShow navigation menuNavigation menuNewsShow more news sectionsAfricaAsiaUS & CanadaLatin AmericaEuropeAsia PacificMiddle EastExplainedSportOpinionVideoMoreShow more sectionsFeaturesEconomyHuman RightsClimate CrisisInvestigationsInteractivesIn PicturesScience & TechnologyPodcastsTravelSponsored Contentplay Live Click here to searchsearchSign upNavigation menucaret-leftDonald TrumpTrump, Netanyahu and the Iran questionHow Iran war fallout may shape US electionsA visual guide to redistrictingcaret-rightNews|InflationDonald Trump renews effort to fire Federal Reserve governor Lisa CookThe US president has clashed with Federal Reserve members over his bid to rapidly slash interest rates despite inflation. xwhatsapp-strokecopylinkgoogleAdd Al Jazeera on GoogleinfoFederal Reserve Board Governor Lisa Cook participates in a board meeting at the Federal Reserve on March 19, 2026 [AFP]By Catherine Nouhan and ReutersPublished On 7 Aug 20267 Aug 2026The White House has revived its efforts to remove Lisa Cook, the first Black woman to serve as a governor at the Federal Reserve, the United States’ central bank. On Friday, media reports emerged that the administration of President Donald Trump had sent Cook a letter threatening her position at the Federal Reserve. “You are hereby provided notice that the President is considering removing you from your position,” the letter read. Signed by White House Deputy Chief of Staff Dan Scavino, the letter gave Cook a deadline of three weeks to respond to unproven allegations that she had committed mortgage fraud. It also warned that the crime she was accused of was punishable by up to 30 years in prison. Her conduct, the letter added, constituted negligence that calls into question her trustworthiness as a Federal Reserve governor. Trump first unveiled the claims against Cook in August 2025, in a push to fire her from her role. No other president since the central bank’s founding in 1913 has sought to oust a Federal Reserve governor. The central bank has historically been insulated from political pressure, and under the law, Federal Reserve governors can only be removed by the president “for cause”. A full term runs 14 years. Such laws aim is to shield the central bank from making economic decisions based on political pressures. But Trump has undertaken an aggressive campaign to slash interest rates, which are elevated as a means of combatting inflation. He has also sought to rid the federal government of appointees aligned with his Democratic predecessors. Cook was nominated in 2022 under President Democrat Joe Biden, Trump’s two-time election rival. Trump’s claims against Cook centre on the idea that she listed two homes as her primary residence: one in Georgia and the other in Michigan. That could have made her eligible for favourable mortgage rates. But there is no conclusive evidence so far that Cook sought to deceive lenders, making a successful fraud prosecution unlikely. In June, a US Supreme Court ruling also blocked Trump’s attempt to fire her, though it did clear the way for the president to fire the heads of other independent agencies. The letter sent to Cook this week was dated August 5. That same day, Cook spoke at an economic luncheon in Alaska, saying inflation is “too high” and indicating that she is “prepared to act” by raising interest rates, a position shared by others at the Federal Reserve. Trump has long sparred with the Federal Reserve over interest rates, repeatedly threatening to fire former Federal Reserve Chair Jerome Powell for refusing to bow to his demands. Kevin Warsh, a Trump appointee, took over Powell’s position as chair in May. He has yet to deliver Trump’s wished-for rate cuts, amid stubborn inflation. “We should have the lowest interest rate in the world,” Trump said after last week’s decision by the Federal Reserve to hold interest rates steady for the fifth consecutive time. In a statement, Cook’s legal team said “there is no valid cause” for removing her from her position. “As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed,” lawyer Abbe D Lowell said. Advertisement AboutAboutShow moreAbout UsCode of EthicsTerms and ConditionsEU/EEA Regulatory NoticePrivacy PolicyCookie PolicyCookie PreferencesAccessibility StatementSitemapWork for usConnectConnectShow moreContact UsUser Accounts HelpAdvertise with usStay ConnectedNewslettersChannel FinderTV SchedulePodcastsSubmit a TipPaid Partner ContentOur ChannelsOur ChannelsShow moreAl Jazeera ArabicAl Jazeera EnglishAl Jazeera Investigative UnitAl Jazeera MubasherAl Jazeera DocumentaryAl Jazeera BalkansAJ+Our NetworkOur NetworkShow moreAl Jazeera Centre for StudiesAl Jazeera Media InstituteLearn ArabicAl Jazeera Centre for Public Liberties & Human RightsAl Jazeera ForumAl Jazeera Hotel PartnersFollow Al Jazeera English:
المصدر: Al Jazeera English | Source: Al Jazeera English
💡 لماذا يهمك هذا | Why This Matters

Donald Trump has renewed efforts to remove Federal Reserve Governor Lisa Cook, the first Black woman in that role.

The White House sent Cook a letter alleging mortgage fraud and threatening her position, giving her three weeks to respond.

ملاحظة تحريرية | Editorial Note: نُشر هذا المقال في الأصل بواسطة Al Jazeera English. خبر (Khabr) هي منصة إعلامية أردنية مرخّصة تعمل بالذكاء الاصطناعي. نضيف قيمة تحريرية من خلال: تحليل ذكي للأخبار، ملخصات تلقائية، رواية صوتية بالذكاء الاصطناعي، ترجمة متعددة اللغات، وتدقيق الحقائق. هدفنا جعل الأخبار أكثر وضوحاً وسهولةً للقارئ العربي.

This article was originally published by Al Jazeera English. Khabr is a licensed Jordanian AI-powered news platform (Registration #82086). We add editorial value through: AI-powered news analysis, automated summaries, AI audio narration, multi-language translation (Arabic, English, French, Turkish), and AI fact-checking. Our mission is to make news more accessible and understandable for Arabic-speaking audiences worldwide.

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المزيد عن العالم | More on World

هذا الخبر ضمن تغطية خبر لقسم العالم. نقدّم لك تحليلات ذكية وملخصات يومية لأهم الأخبار من مصادر موثوقة متعددة. المصدر: Al Jazeera English. يوجد 6 مقالات مرتبطة بهذا الموضوع.

This article is part of Khabr's coverage of World. We provide AI-powered analysis, summaries, and multi-source aggregation to keep you informed. Source: Al Jazeera English.

مقالات ذات صلة

خبر — منصة إخبارية ذكية | Khabr — AI-Powered News Platform

خبر هو أول مجمّع أخبار عربي يعمل بالذكاء الاصطناعي. نقدم تحليلات ذكية وملخصات تلقائية ورواية صوتية لكل خبر من أكثر من 700 مصدر موثوق. نضيف قيمة تحريرية فريدة من خلال أدوات الذكاء الاصطناعي التي تساعدك على فهم الأخبار بعمق أكبر.

Khabr is the first AI-powered Arabic news aggregator. We provide AI-generated editorial analysis, automated summaries, audio narration, and fact-checking for every article from 700+ trusted sources. Our platform adds unique editorial value through AI tools that help you understand the news more deeply.

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