Lisa Cook has until Aug 26 to answer Trump's removal letter. Will he fire her from the Fed before Sept 2?

Lisa Cook remained a Federal Reserve governor as of September 2, 2026, despite a renewed effort by President Trump to remove her. In a letter dated August 5, White House deputy chief of staff Dan Scavino gave Cook three weeks, until August 26, to respond to allegations that she made false statements on mortgage applications. Cook's attorney, Abbe Lowell, responded just before the deadline with a five-page letter calling the mortgage-fraud allegations "unfounded and untrue." Trump had already tried once to fire Cook, in August 2025, an effort blocked by a federal district judge and ultimately curtailed by the Supreme Court, which ruled 5-4 in June 2026 that Trump had not afforded Cook the procedural protections required under the Federal Reserve Act before removing a governor for cause. That ruling left Cook in place while the underlying case continued in lower courts. By September 2, Trump had not issued a new termination notice following the August 26 deadline, and Cook continued serving on the Fed's board. The community leaned narrowly toward expecting a firing, with 46 percent predicting yes, but Cook remained in her seat, consistent with the pattern of the case since 2025.