Trump removes Lisa Cook from the Fed Board: allegations of irregularities

The US president orders the governor’s dismissal ‘with immediate effect’

Donald Trump has announced the immediate removal of Lisa Cook from the Board of Governors of the Federal Reserve, citing alleged irregularities related to mortgage loans. According to the president, there are “sufficient grounds to believe” that the economist made false statements. The announcement came in a letter addressed to Cook and shared by Trump himself on the Truth platform.

The previous announcement
In recent days, the president had anticipated his intentions, openly declaring to the press: ‘I will fire her if she does not resign.’ Cook, appointed in 2022, was the first African-American woman to join the Fed’s Board of Governors.

The legal framework
The removal of a member of the Fed’s Board is only possible for ‘just cause.’ Trump’s decision therefore opens the door to a likely institutional and political clash, as cases of a president firing a Federal Reserve governor are extremely rare in American history.

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