This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.

Here are five key things investors need to know to start the trading day:

In an unprecedented move, President Donald Trump said he is firing Federal Reserve Governor Lisa Cook. The move marks a major escalation of the president’s pressure campaign on the central bank as he lobbies for lower interest rates.

Here’s what to know:

Breaking news this morning: Eli Lilly