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President Trump claims to have fired Federal Reserve Governor Lisa Cook, citing "deceitful and potentially criminal conduct" related to mortgage applications.

The legality of the firing is unclear, as federal law allows dismissal for specific reasons, and the alleged misconduct predates Cook's 2022 appointment.

Cook, the first Black woman on the Fed board, previously stated her intention to remain in her position.

President Donald Trump posted a letter on social media on Aug. 25 saying he was immediately firing former Michigan State University economist Lisa Cook from the Federal Reserve Board of Governors, accusing her of "deceitful and potentially criminal conduct" in obtaining mortgages for her personal property.

It was not immediately clear whether Trump's fi

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