Trump fires Federal Reserve Board Member

[James48843]

Trump says he's removing Fed Governor Lisa Cook, cites mortgage fraud allegations​

Source: CNBC

Published Mon, Aug 25 2025 8:09 PM EDT

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 independence of 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.

Read more: https://www.cnbc.com/2025/08/25/trump-fires-lisa-cook-fed-powell.html

 

[weatherweenie]

She's saying he doesn't have the authority to fire her.

 

[Jackbnimble]

This should get interesting. The market just shrugged it off.