Trump Orders Firing of US Federal Reserve Director, Who Resists Removal

President Donald Trump announced his intention to immediately remove Lisa Cook, a Federal Reserve (Fed) employee, from her position, in a significant escalation in his battle against the American central bank. Trump cited ‘sufficient reasons’ to believe Cook provided false information about personal real estate contracts and invoked constitutional powers to justify her removal. In response, Cook stated that Trump lacked the authority to dismiss her and that she would not resign. The dismissal of a central bank leadership member by the president is an unprecedented action in the US, occurring as Trump increasingly pressures the Fed, particularly its chairman, Jerome Powell, for what he perceives as reluctance to cut interest rates. Cook is one of the seven members of the Fed’s Board of Governors and was appointed by Trump’s predecessor, democrat Joe Biden, in 2022, making her the first Black woman to hold the position.