The Globe and Mail reports in its Saturday edition that President Donald Trump is attempting to fire Federal Reserve Governor Lisa Cook after the Supreme Court previously blocked his efforts. A Reuters dispatch to The Globe reports that the White House sent Ms. Cook a letter stating that the President is "considering" her removal and demanded a response to unsubstantiated mortgage fraud allegations within three weeks. Her attorney called these allegations "baseless." The letter, signed by deputy chief of staff Dan Scavino, claimed that Ms. Cook committed crimes potentially punishable by up to 30 years and questioned her trustworthiness. Ms. Cook's lawyer said there is "no valid cause" for her removal.
"As we did before, we will challenge this latest pretext and preserve her position and the historic role of the Fed," attorney Abbe D. Lowell said. The Federal Reserve did not immediately respond to a request for comment. The White House did not immediately respond to a request for comment.
Mr. Trump last year attempted to fire Ms. Cook, the first black woman on the Fed board, citing mortgage fraud. Ms. Cook denied the allegations, claiming they were a cover for policy disagreements. The Supreme Court upheld her position in June, reinforcing the central bank's independence against the President's challenge.
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