Trump says he's firing Federal Reserve Governor Lisa Cook. She says she won't resign

Trump says he’s firing Federal Reserve Governor Lisa Cook. She says she won’t resign Politics Aug 26, 2025 9:21 AM EDT

WASHINGTON (AP) — President Donald Trump said Monday night that he’s firing Federal Reserve Governor Lisa Cook, an unprecedented move that would constitute a sharp escalation in his battle to exert greater control over what has long been considered an institution independent from day-to-day politics.

Trump said in a letter posted on his Truth Social platform that he is removing Cook effective immediately because of allegations that she committed mortgage fraud.

READ MORE: Trump calls on Federal Reserve official to resign after ally accuses her of mortgage fraud

Cook said Monday night that she would not step down. “President Trump purported to fire me ‘for cause’ whe