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August 26, 2025

"I Will Not Resign": Federal Reserve Governor Lisa Cook Rejects Trump's Claim He Fired Her
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In a major escalation against the independence of the Federal Reserve,
President Trump said Monday he is firing Federal Reserve Governor Lisa
Cook, the first Black woman to sit on the central bank's board. Trump is
claiming that she committed mortgage fraud and that he's removing her
immediately. Cook is holding firm, saying that she intends to stay in
her position.

In a statement to Politico, she said, "President 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."
Trump has also repeatedly threatened to fire Fed Chair Jerome Powell as
he pressures the Fed to lower interest rates.


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