Overview

• Cook has rejected the order to leave her post and her attorney Abbe Lowell says a lawsuit challenging the dismissal could be filed as soon as Wednesday.
• The White House cites mortgage-related misconduct tied to two homes listed as primary residences in Michigan and Georgia, allegations initially raised by FHFA director Bill Pulte.
• A Federal Reserve spokesperson said the central bank will comply with any judicial decision that resolves the dispute.
• The administration is considering replacements, with Stephen Miran and David Malpass among candidates reported by the Wall Street Journal.
• Analysts warn the move could weaken perceptions of central-bank independence and reshape Fed governance, while markets lean toward lower rates ahead of the Sept. 16–17 policy meeting.