Federal Reserve Governor Lisa Cook has refused to resign despite President Trump announcing he would fire her, claiming he lacks the legal authority. Cook said Trump cited alleged mortgage fraud, but she maintains no cause exists under the law and will continue her duties.
Trump’s attempt to remove Cook marks the first time a president has sought to oust a sitting Fed governor and could lead to a legal battle. Appointed by Biden in 2022, Cook’s term runs through 2038, and she has not been charged with any crime.
