US President Donald Trump has decided to fire Federal Reserve Governor Lisa Cook, accusing her without evidence of committing mortgage fraud by obtaining favorable loans.

Trump's decision triggered a historic legal battle in the country that threatens the central bank's political independence.

In carrying out the firing, Trump cited Article II of the Constitution and the Federal Reserve Act of 1913 to tell Cook she was “removed” from her position, “effective immediately,” according to a letter the White House rapid response team shared on X.

Bill Pulte, the director of the Federal Housing Finance Agency, who has been one of Trump's most outspoken officials regarding the Federal Reserve, alleged in a letter earlier this month that she "falsified bank documents and property records to obt

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