President Trump's move to fire Federal Reserve governor Lisa Cook could roil financial markets, raise uncertainty for investors and heighten concerns that the White House is trying to wrest control of the historically independent central bank, according to Wall Street analysts.

Mr. Trump announced her removal in a letter posted Monday night on Truth Social, citing allegations that she had engaged in mortgage fraud .

Cook denies Mr. Trump has the legal authority to fire her and pledged on Tuesday not to resign. "I will continue to carry out my duties to help the American economy as I have been doing since 2022," she said in a statement. Cook's lawyer also vowed to fight the firing in court.

Asked by CBS News chief White House correspondent Nancy Cordes on Tuesday whether the Tr

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