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"Trump Moves to Fire Fed’s Cook, Escalating Central Bank Attack

President Donald Trump moved to oust Federal Reserve Governor Lisa Cook following allegations from a White House ally that she falsified mortgage documents, a dramatic escalation in his battle to exert more control over the US central bank.

In a letter he posted on Truth Social Monday, Trump said he had determined he had “sufficient cause” to fire Cook, the first Black woman to serve on the Fed Board in Washington, based on the allegations that she made false statements on one or more mortgage loans. The move could give Trump another chance to name someone to the Fed board as he repeatedly pressures officials to lower interest rates.

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It wasn’t immediately clear whether Cook intended to challenge the dismissal in the courts. If she does, she could immediately seek an injunction reinstating her while litigation moves forward. No charges have been filed against her, though a Justice Department official last week signaled possible plans to investigate her.

The Fed declined to comment. Cook didn’t immediately respond to a request for comment.

“This is a kill shot at Fed independence,” said Aaron Klein, a senior fellow at the Brookings Institution. “Trump is saying the Fed is going to do what he wants it to do, by hook or by crook.”

https://www.bloomberg.com/news/articles/2025-08-26/trump-removes-fed-governor-lisa-cook-effective-immediately?srnd=homepage-americas