Rebuffed by the Supreme Court in June, Trump Revived His Unprecedented Campaign to Fire Federal Reserve Governor Lisa Cook — Reusing the Same Cherry-Picked Mortgage-Paperwork Allegations to Try to Remove, "For Cause," the First Governor Any President Has Ever Sought to Purge in the Fed's 111-Year History, in a Naked Bid to Bend Interest Rates to His Will; Cook Called the Charges Baseless and Turned Them Back on Trump's Own Cabinet
For the first time in the Federal Reserve's 111-year history, a president is trying to fire a sitting governor — and having failed once, Trump is trying again. In 2025 he purported to remove Governor Lisa Cook "for cause," citing a criminal referral from his own housing-finance director, Bill Pulte, that accused her of listing two homes — one in Michigan, one in Georgia — as her primary residence on mortgage paperwork. Cook sued; lower courts blocked the removal; and in late June 2026 the Supreme Court let her keep her seat while the case proceeds (even as it expanded Trump's removal power over other independent agencies). In August 2026, Trump revived the effort with the same allegations. Cook's lawyers answered in a five-page letter to Attorney General Pam Bondi and the White House calling the charges "unfounded and untrue," arguing that "an inadvertent error is not fraud," accusing Pulte of "cherry-picking" mortgage documents to manufacture a referral, and pointedly turning the same kind of paperwork scrutiny back on Trump and members of his own Cabinet. Strip away the mortgage pretext and the real target is the Fed's independence: Trump wants lower interest rates, a governor who will vote for them, and the power to remove any governor who won't. Firing Cook would hand the president direct leverage over the central bank that sets the price of money for the entire economy — the precise outcome a century of law was built to prevent.