Trump Says He's Removing Federal Reserve Gov. Lisa Cook, Citing His Administration’s Allegations Of Mortgage Fraud

President Donald Trump is removing Federal Reserve Governor Lisa Cook effective immediately, according to a missive he posted to Truth Social connected Monday night.

In nan letter, Trump writes: "Pursuant to my authority nether Article II of nan Constitution of nan United States and nan Federal Reserve Act of 1913, arsenic amended, you are hereby removed from your position connected nan Board of Governors of nan Federal Reserve, effective immediately."

Trump cites a "criminal referral" from Federal Housing Authority head William Pulte from August 15. In that referral, Pulte accused Cook of owe fraud.

The Federal Reserve did not instantly respond to a petition for comment.

For her part, Cook said successful a connection past week that she had "no volition of being bullied to measurement down from my position because of immoderate questions raised successful a tweet."

Cook said she learned of Pulte's allegations only from media reports. “I do intend to return immoderate questions astir my financial history earnestly arsenic a personnel of nan Federal Reserve and truthful I americium gathering nan meticulous accusation to reply immoderate morganatic questions and supply nan facts," Cook said.

Cook is nan first Black female to service connected nan committee of nan Fed, considered nan world's astir important independent cardinal bank.