The Trump administration is attempting to oust another Federal Reserve official, and the attack is being led by a familiar figure: top housing regulator Bill Pulte. The big picture: Pulte accused Federal Reserve governor Lisa Cook of mortgage fraud,

The surprise early resignation of former Fed Governor Adriana Kugler, another Biden pick, gives Trump an early opening to nominate someone to the central bank’s board and steer its monetary policy trajectory more toward his preferred path. He has named one of his economic aides, Stephen Miran, to fill the slot on an interim basis.

The president does not have the power to remove Cook from office without cause. The Justice Department is investigating her for alleged mortgage fraud.