Federal Reserve Governor Lisa Cook Fired by President Trump

President Donald Trump announced the termination of Federal Reserve Governor Lisa Cook on Monday, citing allegations of mortgage fraud.

In a letter posted on social media, Trump stated, “Pursuant to my authority under Article II of the Constitution and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately.”

The decision follows accusations from the Federal Housing Finance Agency Director, Bill Pulte, who alleged that Cook falsified bank documents and property records to obtain more favorable mortgage loan conditions. These allegations were part of a criminal referral sent to the Attorney General last week.

This story is developing. Additional details will be provided as they become available.