In a letter shared on Truth Social, Trump claimed "sufficient cause" to remove Cook immediately, pointing to accusations that Cook made false statements on mortgage agreements.
Cook said Aug. 26 the president lacked authority to oust her from the board of the central bank. She plans to challenge the move in court, according to a statement from her attorney.
The move comes amid Trump's monthslong efforts to influence the Fed's decisions on interest rates. Trump had previously focused on pressuring Fed Chair Jerome Powell to lower rates through name-calling and termination threats, although he has since walked back threats to remove Powell.
A top border patrol commander touted dozens of arrests in North Carolina’s largest city on Sunday...
Lawyers for Lisa Cook, the Federal Reserve governor, called Trump administration allegations of mortgage fraud against...
The Trump administration filed a lawsuit on Monday challenging California’s new laws that ban federal officers...
