Fed governor Lisa Cook slams Trump’s renewed threat to fire her - AP News

Federal Reserve governor Lisa Cook stated in a letter late Wednesday that the Trump administration has no legal basis to remove her from the central bank's governing board, responding to renewed White House threats.
Trump first sought to fire Cook a year ago over allegations she committed mortgage fraud, a charge she denies and that has not been proven or considered in court.
The Supreme Court ruled Cook could remain in her position during litigation, but said Trump could try to fire her again with proper notice and an opportunity to contest it; a White House aide gave her until Wednesday to respond.
Trump administration officials accuse Cook of declaring two homes as "primary residences" on mortgage applications, which can qualify for lower rates or down payments; her attorneys Abbe Lowell and Norman Eisen argued an inadvertent error is not fraud.
Cook said she had referred to one of the homes as a "vacation home" in some documents and did not intend to deceive lenders, characterizing any errors as unintentional and insufficient to justify her firing.
Her lawyers framed the effort as an attempt to force the Fed to bend to Trump's will; if Cook is removed, Trump could name a replacement and give his appointees a majority on the board, amid his longstanding criticism of the Fed for not cutting interest rates quickly enough.