THE GUARDIAN: Departure of Cook, first Black woman to sit on central bank’s board, would allow US president to put forward a replacement
Donald Trump has said he is firing the Federal Reserve governor, Lisa Cook, over allegations she committed mortgage fraud, in an extraordinary move that marks the latest escalation in the US president’s attack on the central bank’s independence.
Trump wrote to Cook on Monday, telling her that he was removing her from her position “effective immediately”, based on the allegation from one of his allies that she had obtained a mortgage on a second home she incorrectly described as her primary residence.
Cook responded several hours later in a statement emailed to reporters through the law office of the lawyer Abbe Lowell, saying of Trump that “no cause exists under the law, and he has no authority” to remove her from the job to which she was appointed by Joe Biden in 2022.
She said: “I will continue to carry out my duties to help the American economy.“
Lowell said Trump’s “demands lacked any proper process, basis or legal authority”, adding: “We will take whatever actions are needed to prevent his attempted illegal action.” » | Callum Jones in New York | Tuesday, August 26, 2025
THE NEW YORK TIMES: Trump, in a Move With Little Precedent, Says He Is Firing a Fed Governor: President Trump told Lisa Cook that he had found sufficient cause “to remove you from your position.” Ms. Cook and her lawyer said they would fight the firing. »
