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NATIONAL NEWS

Trump fires Fed governor Lisa Cook, opening new front in fight for control over central bank

Aug 25, 2025, 5:24 PM | Updated: Aug 26, 2025, 1:20 am

FILE - Board of Governors of the Federal Reserve member Lisa Cook, speaks during a conversations wi...

FILE - 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, Sept. 23, 2022, in Washington. (AP Photo/Manuel Balce Ceneta, File)
Credit: ASSOCIATED PRESS

(AP Photo/Manuel Balce Ceneta, File)

Associated Press's Profile Picture

BY ASSOCIATED PRESS


WASHINGTON (AP) — President Donald Trump fired Federal Reserve Governor Lisa Cook late Monday, a sharp escalation in his battle to exert greater control over what has long been considered an institution independent from day-to-day politics.

Trump said in a letter posted on his Truth Social platform that he is firing Cook because of allegations that she committed mortgage fraud. Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, made the accusations last week.

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Trump fires Fed governor Lisa Cook, opening new front in fight for control over central bank