Trump Fires Federal Reserve Governor Lisa Cook

In a published letter to Cook, Trump accused her of ‘deceitful and potentially criminal conduct in a financial matter.’

Board of Governors of the Federal Reserve member Lisa Cook, speaks during a conversations with leaders from organizations that include nonprofits, small businesses, manufacturing, supply chain management, the hospitality industry, and the housing and education sectors at the Federal Reserve building in Washington on Sept. 23, 2022. Manuel Balce Ceneta/AP Photo

President Donald Trump on Aug. 25 published a letter saying that he has fired Lisa Cook, a member of the Federal Reserve Board of Governors, from her position.

Members of the board, who are appointed by the U.S. president with the advice and consent of the Senate, serve 14-year terms, and normally cannot be removed except “for cause.”