U.S. President Donald Trump fired Federal Reserve Governor Lisa Cook on Monday, citing alleged mortgage fraud. It's the first-ever effort to remove a governor and could face a court challenge.
Trump announced the dismissal in a letter shared on Truth Social, claiming Cook had “sufficient cause” due to documents from 2021 showing she indicated separate properties in Michigan and Georgia were both primary residences.
“It is inconceivable that you were not aware of your first commitment when making the second,” Trump wrote.
“The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve. In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity,” he added.
Cook, nominated by former President Joe Biden in 2022 as the first African-American woman on the Fed board, denied any wrongdoing.
Through her lawyer Abbe Lowell, she said Trump “has no authority” to remove her and would continue fulfilling her duties.
The controversy emerged after Federal Housing Finance Agency director William Pulte flagged the mortgage documents and referred the matter to the Justice Department.
Trump had warned Cook she would be dismissed if she did not resign voluntarily.
Analysts note that Cook’s removal would allow Trump to nominate a fourth governor. This could potentially reshape the Fed board alongside current members Governor Christopher Waller and the pending nomination of Council of Economic Advisers chief Stephen Miran.
U.S. President Donald Trump is set to meet with Syrian President Ahmed al-Sharaa at the White House on Monday, press secretary Karoline Leavitt announ...
Cameroon's security forces killed 48 civilians while responding to protests against the re-election of President Paul Biya, the world’s oldest sitti...
South Korea's intelligence agency believes there is a strong possibility that North Korea and the United States will hold a summit, with the meeting p...
Mexico has expressed regret over Peru’s decision to sever diplomatic relations after the Mexican government granted asylum to former Peruvian Prime ...
Brussels Airport is closed after the reported sighting of a drone, said the Belgian air traffic control service and a spokeswoman for the airport....
U.S. President Donald Trump is set to meet with Syrian President Ahmed al-Sharaa at the White House on Monday, press secretary Karoline Leavitt announced on Tuesday during a press briefing.
Cameroon's security forces killed 48 civilians while responding to protests against the re-election of President Paul Biya, the world’s oldest sitting leader, according to data shared with Reuters on Tuesday by two U.N. sources.
South Korea's intelligence agency believes there is a strong possibility that North Korea and the United States will hold a summit, with the meeting potentially taking place after March, a lawmaker has said.
Mexico has expressed regret over Peru’s decision to sever diplomatic relations after the Mexican government granted asylum to former Peruvian Prime Minister Betssy Chavez.
Russia said on Monday that its troops had advanced in the eastern Ukrainian city of Pokrovsk, a transport and logistics hub that they have been trying to capture for over a year, but Ukraine said its forces were holding on.
At least 37 people have died and five are missing after devastating floods and landslides hit central Vietnam, officials said Monday, as a new typhoon threatens to worsen the disaster.
U.S. President Donald Trump said he does not believe the United States is going to war with Venezuela despite growing tensions, though he suggested President Nicolás Maduro’s time in power may be nearing its end.
Tanzania's President Samia Suluhu Hassan vowed on Monday to move on from deadly protests set off by last week's disputed election as she was sworn into office for her first elected term.
The eastern Ukrainian city of Pokrovsk has emerged as a critical point in Russia’s campaign to seize the remaining Ukrainian-held parts of Donetsk, and its fate could shape the course of the conflict in the region.
Brussels Airport is closed after the reported sighting of a drone, said the Belgian air traffic control service and a spokeswoman for the airport on Tuesday (November 4)
U.S. President Donald Trump is set to meet with Syrian President Ahmed al-Sharaa at the White House on Monday, press secretary Karoline Leavitt announced on Tuesday during a press briefing.
Cameroon's security forces killed 48 civilians while responding to protests against the re-election of President Paul Biya, the world’s oldest sitting leader, according to data shared with Reuters on Tuesday by two U.N. sources.
South Korea's intelligence agency believes there is a strong possibility that North Korea and the United States will hold a summit, with the meeting potentially taking place after March, a lawmaker has said.
Mexico has expressed regret over Peru’s decision to sever diplomatic relations after the Mexican government granted asylum to former Peruvian Prime Minister Betssy Chavez.
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