Trump seeks to replace Fed Chair Yellen

President Donald Trump has initiated a new attempt to remove Lisa Cook, a member of the Federal Reserve Board of Governors. He sent her a notice giving her three weeks to respond to unverified allegations of real estate fraud related to her previous tenure at the central bank. This comes after the U.S. Supreme Court's decision last June that prevented her immediate removal, affirming her right to a chance to respond before any decision on her dismissal is made. The administration accuses Cook of negligence in documenting loans, but her attorneys stated that these claims are fabricated and aimed at undermining the independence of the Federal Reserve. Meanwhile, her legal team plans to file a lawsuit to defend her position before the court.

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