https://www.cnbc.com/2025/08/25/trump-fires-lisa-cook-fed-powell.html
President Donald Trump on Monday fired Federal Reserve Governor Lisa Cook, according to a letter on his Truth Social, an unprecedented move and a significant escalation of his attacks on the U.S. central bank.
“Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” Trump wrote.
CNBC reached out to the Federal Reserve for comment.
Trump’s move pushes the Federal Reserve into unchartered territory and will likely lead to a legal clash that could wind up at the Supreme Court.
The Trump administration claims that Cook, who was nominated by former President Joe Biden in 2022, committed mortgage fraud by allegedly naming two different properties as her primary residence at the same time.
Uncharted territory here. Can't be good for the market though if he ultimately prevails
Trump says he’s removing Fed Governor Lisa Cook, cites mortgage fraud allegations
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Posted by Fidler_2K
4 Comments
Say what you want but there is overwhelming evidence she committed mortgage fraud. Claiming primary residency on two homes in two different states within two weeks is pretty cut and dry.
That’s rich coming from a felon convicted of 34 counts of FRAUD
Explain to me how this is a federal thing? Sounds like a state issue, and how does breaking a state law affect what’s she’s doing? This is the most corrupt administration this country has ever seen.
People will be happy rate cuts are coming and it will pump up the market but this is honestly crazy. They will sweep inflation under the rug and pretend it’s not happening. Good for the rich, bad for middle class and poor. USD going to do poorly as well. As a Canadian it’s annoying to get dragged along for the ride. Even with a prime minister who ran two central banks we still can’t deviate too far from the US given our economic ties.