Source: Politico
“President Donald Trump on Monday said he is firing Federal Reserve Governor Lisa Cook, escalating his pressure campaign on the Central Bank to lower interest rates. In a social media post, Trump shared a letter addressed to Cook asserting the Department of Justice’s inquiry into whether Cook lied on mortgage applications amounted to ‘sufficient cause’ to remove her from the fed board. … Cook argued that Trump’s cause for removing her is illegitimate, and her attorney pledged to challenge the president’s action. ‘President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so. I will not resign.'” (08/25/25)