Tue, 26 Aug 2025

Tue, 26 Aug 2025 Trump orders removal of Federal Reserve governor Lisa Cook

Cook says the US president "has no authority to do so" in defiance of Trump's escalatory move against the central bank.
President Donald Trump has announced that he will remove Federal Reserve official Lisa Cook from her position immediately, citing "sufficient reason" to believe she made false statements on mortgage agreements. Cook has responded by saying that Trump has no authority to fire her and she will not resign. According to Trump's letter, Cook signed documents attesting to different primary residences in Michigan and Georgia within a two-week period. The president argued that it is "inconceivable" that she was unaware of her first commitment when making the second. Cook has denied any wrongdoing, stating that she learned of the allegations from the media and they stem from a mortgage loan application made four years ago before joining the central bank. She said she will continue to carry out her duties and help the American economy as she has since 2022. Trump's decision is believed to be unprecedented in the Fed's 111-year history, and it may raise legal questions. Cook's lawyer said they will take whatever actions are needed to prevent Trump's "attempted illegal action."
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