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US President Donald Trump has said he will immediately remove Federal Reserve official Lisa Cook from her position, in a major escalation in his battle against the US central bank. He said there was "sufficient reason" to believe Cook had made false statements on mortgage agreements, and cited constitutional powers which he said allowed him to remove her. In response, Cook said Trump had no authority to fire her and she would not resign.

U.S. stock futures were lower Tuesday, adding to a slide in the major averages to start the week, after President Donald Trump removed Federal Reserve Governor Lisa Cook from the board of the central bank....Trump’s unprecedented move adds to the pressure the president has been putting on the central bank’s independence. By law, a president may only remove Fed governor “for cause.” As a result, it is possible the matter will be challenged in the courts.

President Biden's nominee for governor of the Federal Reserve has said repeatedly that she supports reparations, the controversial proposed policy of financial compensation for Black Americans as a form of atonement for slavery and discrimination. "Everybody benefited from slavery. Everybody," Lisa Cook, a Michigan State University professor, said in a September 2020 "EconTalk" podcast. "So, I think that we absolutely need some sort of reckoning with that. There are many proposals on the table to study the possibility of reparations, many economic proposals being put forward, and I think they should all be taken seriously." Biden said during the 2020...

Menu ADVERTISEMENT Medicare Now Covers This Life-Changing COPD Breakthrough Medicare Now Covers This Life-Changing COPD Breakthrough Carda Health BREAKING: President Trump Fires Biden-Appointed Federal Reserve Governor Lisa Cook Amid Mortgage Fraud Allegations by Cristina Laila Aug. 25, 2025 7:20 pm41 Comments TruthTweetShareGettrGab Promises made, promises kept. President Trump on Monday evening fired Biden-appointed Federal Reserve Governor Lisa Cook amid mortgage fraud allegations. “Pursuant to my authority under Article II 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...

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. “President Trump purported to fire me ‘for...

The first Black woman to serve on the Federal Reserve board, Ms. Cook has long been a pathbreaker in a field dominated by white men.Years before Lisa Cook became President Trump’s latest target in his effort to exert control over the Federal Reserve, she wrote about her experience as one of a relative handful of Black women in a field long dominated by white men.“Economics is neither a welcoming nor a supportive profession for women,” she and a colleague wrote in a New York Times opinion essay in 2019. She added, “But if economics is hostile to women, it is...