Ms. Lisa Cook has vowed to fight the removal effort of President Trump through her attorneys. “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022,” Cook said in a statement to POLITICO.

On a Truth Social Post, President Trump announced his decision to remove Lisa Cook from her position on the FED board of governors, due to the criminal referral which alleges she falsified information on a mortgage application.

WASHINGTON – […] The Supreme Court has repeatedly backed Trump’s efforts to remove executive branch officials that Congress had attempted to shield from removal without cause — including from agencies that have historically enjoyed arms-length independence. But the justices have made clear they view the Fed as an exception to this deference to the president.

In a May opinion upholding Trump’s removal of a member of the National Labor Relations Board, the high court emphasized that the Federal Reserve “is a uniquely structured, quasi-private entity that follows in the historical tradition of the First and Second Banks of the United States.”

Trump’s effort to remove Cook, however, will likely hinge on what he is claiming as the basis. The allegation of mortgage fraud has not as yet led to criminal charges or any findings of misconduct.

In his letter, Trump sought to justify his legal standing in removing Cook, citing his executive authority.

“The executive power of the United States is vested in me as President and, as President, I have a solemn duty to ensure that the laws of the United States are faithfully executed,” he wrote. “I have determined that faithfully executing the law requires your immediate removal from office.” (more)

Jerome Powell and Lisa Cook