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Instant Reaction: Trump Moves to Oust Fed's Lisa Cook | Balance of Power
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August 26, 2025
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6:20Now PlayingPresident Donald Trump moved to oust Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations from a White House ally that she falsified documents on mortgage applications.
“The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve,” Trump wrote in a letter sent to Cook on Monday, which he posted on Truth Social. “In light of your deceitful and possibly criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”
Presidents can remove Fed governors from office, but only for cause. Laws that describe “for cause” generally define the term as encompassing three possibilities: inefficiency; neglect of duty; and malfeasance, meaning wrongdoing, in office.
For instant reaction, host Doug Krizner speaks with Enda Curran, Bloomberg global economy reporter.
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Bloomberg Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.
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