President Donald Trump announced in an Aug. 25 letter that he is firing Federal Reserve Governor Lisa Cook over mortgage fraud allegations.
“In light of your deceitful and potentially criminal conduct in a financial matter, [the American people] cannot and I do not have such confidence in your integrity,” wrote Trump in the letter.
Cook, appointed to the Fed Board of Governors in 2022 by President Joe Biden, said the firing was illegal and vowed to stay in her position. “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said in a statement….