Donald Trump's move to fire Federal Reserve Governor Lisa Cook has marked a dramatic escalation in his effort to control the US central bank -- in a step that risks the institution's independence.

For months, the US leader has been calling for the bank to slash interest rates, lashing out repeatedly at Fed Chair Jerome Powell for being "too late" and calling him a "moron."

But policymakers have been holding rates steady as they monitor the effects of Trump's wide-ranging tariffs on inflation.

By ousting Cook, the president could potentially add another voice to the Fed's board, to try and shift interest rates in his favored direction.

After calling for her resignation last week, Trump posted a letter to his Truth Social platform Monday evening, saying she was fired "effective immediate

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