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Trump says he's removing Fed governor Lisa Cook | LiveNOW from FOX
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August 26, 2025
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5:55Now PlayingPresident Donald Trump said Monday that he's removing Federal Reserve Governor Lisa Cook, alleging she lied on mortgage forms by declaring two primary residences.
In a letter to Cook, Trump pointed the Federal Reserve Act, saying she can be removed at his discretion.
"In light of your deceitful and potentially criminal conduct in a financial matter, they cannot, and I do not have such confidence in your integrity," Trump wrote. "At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator."
Cook responded late Monday night, saying Trump "purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022."
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