US Federal Reserve Governor Lisa Cook filed a lawsuit on Thursday, August 28, to challenge Donald Trump's move to fire her from her position – as the president widened his pressure on the central bank. "This case challenges President Trump's unprecedented and illegal attempt to remove Governor Cook from her position which, if allowed to occur, would (be) the first of its kind in the Board's history," court documents said.
Cook seeks a decision to confirm her status as a Fed governor, allowing her to continue in her responsibilities. In requesting "immediate declaratory and injunctive relief," Cook also seeks an outcome that safeguards the independence of Fed officials, as mandated by Congress.
On Monday evening, Trump published a letter on his Truth Social platform stating that he had removed Cook from her role, citing accusations of false statements on her mortgage agreements. The move marked a dramatic escalation in his effort to exert control over the independent Fed, in a step that could risk the institution's independence, according to analysts.
Among the alleged false statements was that Cook had claimed two primary residences, one in Michigan and another in Georgia. Cook has not been charged with a crime and the alleged incidents occurred before she was in her current position.