August 25, 2025 at 8:10 PM EDT
Updated on August 25, 2025 at 10:17 PM EDT
President Donald Trump moved to oust Federal Reserve Governor Lisa Cook following allegations from a White House ally that she falsified mortgage documents, a dramatic escalation in his battle to exert more control over the US central bank.
In a letter he postedBloomberg Terminal on Truth Social Monday, Trump said he had determined he had “sufficient cause” to fire Cook, the first Black woman to serve on the Fed Board in Washington, based on the allegations that she made false statements on one or more mortgage loans. The move could give Trump another chance to name someone to the Fed board as he repeatedly pressures officials to lower interest rates.
5 months ago
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