President Donald Trump wants to fire Lisa Cook from her position as a Federal Reserve governor, citing allegations that she committed mortgage fraud prior to her appointment to the Fed in 2022. Trump asserts there is "sufficient cause" for her removal, pointing to accusations that Cook may have falsified mortgage documents by claiming two different homes as primary residences. However, Cook denies these allegations, has not faced any criminal charges, and has filed a lawsuit to block her dismissal, arguing that Trump lacks the authority and valid cause to remove her. Legally, the Federal Reserve Act allows a president to remove a Fed governor only "for cause," but the law does not specify what constitutes cause or the process. Courts have so far blocked Trump's attempt to fire Cook, emphasizing the Fed's independence and the need for due process. The case is ongoing, with Trump's administration petitioning the Supreme Court to allow her removal. This dispute is part of a broader effort by Trump to exert more control over the Federal Reserve, especially as it sets interest rates, with Cook being part of the board that voted recently to cut rates. In summary, Trump wants to fire Lisa Cook based on alleged mortgage fraud as "cause," but the allegations are unproven, Cook contests her firing, and courts have temporarily blocked the removal to preserve the Federal Reserve's autonomy.