US President Donald Trump has renewed his effort to remove Federal Reserve Governor Lisa Cook, reigniting a major legal and political battle over presidential power and the independence of America's central bank.

The Trump administration is seeking Cook's removal over allegations involving mortgage documents from 2021, before she joined the Federal Reserve in 2022. Trump has accused Cook of mortgage fraud, while Cook denies wrongdoing and her lawyers have called the allegations baseless and politically motivated.

The Supreme Court previously ruled 5–4 that Cook could remain in her position while she challenges her removal, finding that she had not been given the required procedural protections. However, the ruling did not permanently prevent Trump from attempting to remove her again.

Chief Justice John Roberts indicated that the president could pursue removal if Cook received proper notice and an opportunity to respond. Cook's deadline to respond is August 26.

Trump Renews Effort to Fire Fed Governor Lisa Cook | Battle Over Federal Reserve Independence

In today's top world news: Ukraine says a Russian missile strike killed at least six people in Kryvyi Rih, firefighters battle a massive wildfire on England's Suffolk coast, Iran releases footage alleging a US strike on a family home, Congress President Mallikarjun Kharge attacks the government's anti-paper leak bill, Japan's earthquake death toll rises to 34, Indian markets extend gains despite global uncertainty, and Stephen Fleming is appointed England's Test head coach as Joe Root returns as captain.

Ukraine Strike | Japan Quake |  England Wildfire |  Kharge Attack & Market Rally | World News

The Federal funds rate remained unchanged at zero to a quarter percentage point, and will stay there until America's labor market has recovered

Fed vows to keep interest rates near zero

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Trump Renews Effort to Fire Fed Governor Lisa Cook | Battle Over Federal Reserve Independence

Ukraine Strike | Japan Quake | England Wildfire | Kharge Attack & Market Rally | World News

Fed vows to keep interest rates near zero