Trump Fires Fed Governor Lisa Cook: Historic Clash

Breaking: President Donald Trump has announced the firing of Federal Reserve Governor Lisa Cook, a first in U.S. history.

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In a letter shared on Truth Social, Trump claimed Cook made false statements on mortgage agreements, citing "sufficient cause."

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Cook immediately pushed back, saying the president has no legal authority to remove her and she will not resign.

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U.S. stock futures dipped after the news. Dow fell -0.14%, S&P 500 slipped -0.08%, and Nasdaq futures lost -0.06%.

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Cook’s attorney called Trump’s action “illegal” and vowed to take all necessary steps to block the removal attempt.

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The Congressional Black Caucus condemned the move, calling it an attack on the first Black woman ever appointed to the Fed Board.

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Experts say Trump’s push is part of his broader effort to reshape the Fed with loyalists favoring lower interest rates.

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With another Biden appointee resigning earlier this month, Trump now has an opening to tilt the Fed’s balance further in his favor.

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