Trump suggests Americans are open to a "dictator," Mississippi declares a public health emergency, and more
05:36
President Donald Trump has moved to fire Lisa Cook from the Central Bank’s Board of Governors in what critics say is just his latest attack on the independence of the Fed, which has not capitulated to Trump’s demands to lower interest rates.
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In a letter addressed to Cook that was posted to Truth Social late on Monday, Trump said he was removing Cook, who was nominated by former President Joe Biden, “effective immediately” with “sufficient cause” based on allegations that Cook lied on loan applications for two properties.
“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,” Trump wrote. “In light of your deceitful and possibly criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”
Trump has publicly pushed for Cook to resign since the allegations were made earlier this month, while Cook has maintained that the President has no authority to fire her and is challenging the removal order.
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