Donald Trump renews effort to fire Federal Reserve governor Lisa Cook

The US president has clashed with Federal Reserve members over his bid to rapidly slash interest rates despite inflation.Published 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.Recommended Stories list of 3 itemslist 1 of 3US Fed holds interest rates steady, citing ‘elevated’ inflationlist 2 of 3US labour market sheds jobs in July as labour force participation slumpslist 3 of 3US court deals blow to Trump’s bid to scrap climate grant programmeend of list“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 cal...