Donald Trump on Monday announced he is firing Federal Reserve Governor Lisa Cook, marking the first time a U.S. president has sought to fire a member of the U.S. central bank, less than a week after one of his allies accused her of mortgage fraud.
Cook, who refused to cede to Trump’s earlier calls for her to give up her position, made clear she intends to fight the president’s order.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” she said in a statement. “I will not resign.”
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Meanwhile, Trump is continuing his crackdown on the nation’s capital over what he falsely described as “out of control” crime in the city and has threatened to send National Guard troops to more Democratic-run cities, including Chicago.
