Trump Says He’s Firing Fed Governor Lisa Cook

August 26, 2025 4:31 am

WASHINGTON (AP) — President Donald Trump says he’s firing Federal Reserve Governor Lisa Cook, a sharp escalation in his battle to exert greater control over what has long been considered an institution independent from day-to-day politics. Trump said in a letter posted Monday on his Truth Social platform that he is removing Cook because of allegations that she committed mortgage fraud. Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, made the accusations last week. Cook said Monday night that Trump has no authority to fire her and she would not step down.