Trump Moves to Fire Fed’s Lisa Cook—Here Are 4 Takeaways

Cook has vowed to stay in her position and challenge the termination in court.

Federal Reserve Board of Governors member Lisa Cook talks with Chair Jerome Powell before an open meeting of the Board of Governors in Washington on June 25, 2025. Mark Schiefelbein/AP Photo

President Donald Trump announced in an Aug. 25 letter that he is firing Federal Reserve Governor Lisa Cook over mortgage fraud allegations.

“In light of your deceitful and potentially criminal conduct in a financial matter, [the American people] cannot and I do not have such confidence in your integrity,” wrote Trump in the letter.