President Donald Trump's effort to remove a member of the Federal Reserve's Board of Governors comes amid his push to reshape the composition of the central bank's panel that makes interest rate decisions.

Trump attempted to fire Fed Governor Lisa Cook for cause this summer, accusing her of mortgage fraud and marking the first time a president has ever attempted to remove a Fed governor from office in the central bank's 112-year history. Cook has denied wrongdoing and filed suit to block her firing, with the Supreme Court to hear arguments in January after lower courts sided with Cook.

"President Trump lawfully removed Lisa Cook for cause from the Federal Reserve Board of Governors," White House spokesman Kush Desai told FOX Business. "We look forward to ultimate victory after p

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