The Supreme Court left the door open in June for President Donald Trump to relitigate his case against Federal Reserve Governor Lisa Cook. Now, his administration is choosing to walk through it.
In a letter reported first by ABC News, White House deputy chief of staff Dan Scavino gave Cook three weeks to respond to allegations of mortgage fraud, writing that the justices had ruled Cook was “entitled to notice … and an opportunity to respond.”
Cook’s lawyers say those allegations “are as baseless now as they were a year ago.” But they’ve never been litigated — and the developments are already stoking fears of diminishing Fed independence as the central bank weighs whether to raise interest rates at its next meeting.
All eyes are on newly installed Attorney General Todd Blanche and Fed Chair Kevin Warsh and how they approach the latest assault.