Residency Dispute Tests Trump's Authority to Oust a Fed Governor

The White House asks again for Fed Governor Lisa Cook to respond to mortgage-residency allegations as Cook’s lawyers insist there is no legitimate basis to remove her and that the alleged errors were inadvertent. The case centers on what constitutes ‘for cause’ removal of a Federal Reserve governor; the Supreme Court has allowed Cook to stay while proceedings continue, and the White House has signaled potential further attempts to fire, prompting ongoing legal scrutiny of executive power over the central bank.