President Donald Trump is removing Federal Reserve Governor Lisa Cook effective immediately, according to a letter he posted to Truth Social on Monday night.

In the letter, Trump writes: “Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately.”

Trump cites a “criminal referral” from Federal Housing Finance Agency Director William Pulte, in which Pulte accused Cook of mortgage fraud.

The Federal Reserve did not immediately respond to a request for comment.

Cook said in a statement last week that she had “no intention of being bullied to step down from my position because of some questions raised in

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