AsianFin -- U.S. President Donald Trump on Monday announced he has fired Federal Reserve Governor Lisa Cook, marking the first time in the Fed’s 111-year history that a sitting president has removed a central bank governor. The announcement was made via a letter posted on Trump’s social media account.
The unprecedented action underscores Trump’s ongoing conflict with the Fed, which he has criticized for delaying interest rate cuts.
Cook has recently faced scrutiny from Trump and administration officials over alleged mortgage fraud. The Justice Department has said it will investigate claims first raised by Federal Housing Finance Director Bill Pulte.
Cook has not been formally charged with any wrongdoing.