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WASHINGTON, DC - President Trump fired Federal Reserve Gov. Lisa Cook Monday over allegations that she committed mortgage fraud.
“Pursuant to my authority under Article Il of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” Trump wrote in a letter addressed to Cook, which he posted on Truth Social.
Cook, however, argued that Trump has “no authority” to fire her and indicated that she’s not leaving her post, in a statement.
https://nypost.com/2025/08/25/us-news/t ... legations/