What happened

President Donald Trump Monday said he had fired Federal Reserve Governor Lisa Cook, justifying the unprecedented move by citing unproven allegations of mortgage fraud. Cook, an economist whose term expires in 2038, said Trump had "no authority" to fire her "'for cause' when no cause exists under the law" and "I will not resign." Trump's maneuver was widely seen as an escalation of his push to pressure the historically independent central bank to sharply cut interest rates.

Who said what

Trump's "legally dubious" move to fire Cook, the first Black woman on the Fed's board of governors, "fit an emerging pattern of political retribution" against his "perceived enemies" using mortgage fraud allegations raised by Bill Pulte, the head of the Federal Housing Finance Agency, The

See Full Page