The White House is moving to fire Federal Reserve Governor Lisa Cook for a second time, accusing her of making false statements on mortgage documents—the same allegations that landed Trump in legal trouble when he first tried to remove her last year.
Dan Scavino, Trump’s deputy chief of staff, sent Cook a letter Wednesday stating there is “sufficient reason to believe that you made false statements on one or more mortgage agreements.” The move comes two months after the Supreme Court blocked Trump’s initial firing attempt while preserving his right to try again with proper legal procedures.
Supreme Court Left Door Open for Second Attempt
When Trump first moved to dismiss Cook in 2025, she denied the mortgage fraud allegations and sued. A federal court blocked the firing, and the Supreme Court upheld that block in a 5-4 decision in late June. But Chief Justice John Roberts noted the ruling didn’t prevent Trump from making a new attempt to remove Cook—as long as he followed additional steps to protect her constitutional due process rights.
That’s exactly what the White House appears to be doing now. Scavino’s letter states it was sent “pursuant to the Supreme Court” decision, suggesting the administration believes it has addressed the procedural deficiencies Roberts identified.
Why Fed Independence Matters to Your Wallet
The Federal Reserve sets interest rates that directly affect mortgage payments, credit card rates, and savings account returns. By law, the president cannot fire Fed governors except “for cause”—a protection designed to keep political pressure from influencing monetary policy decisions.
Cook, appointed by President Biden in 2022, has been part of the Fed’s recent decisions on interest rates as the central bank tries to balance fighting inflation without triggering a recession. Her removal would give Trump the chance to reshape the Fed’s board with his own appointee.
Whether Trump can successfully fire Cook this time depends on whether courts determine the mortgage allegations constitute legitimate “cause” under federal law—and whether the White House has provided the due process protections Roberts demanded. Cook has not yet publicly responded to the new dismissal effort.
Key Points
- Trump aide sent new letter to Fed Governor Lisa Cook citing same mortgage fraud allegations that failed in 2025
- Supreme Court blocked first firing attempt but said Trump could try again with proper legal procedures
- Cook’s removal would let Trump reshape the Fed board that controls interest rates affecting mortgages and savings
https://www.cnbc.com/2026/08/07/trump-lisa-cook-federal-reserve.html – August 07, 2026
