Dhaka, Aug. 26 -- President Donald Trump has announced that he is removing Federal Reserve governor Lisa Cook from her post, marking a sharp escalation in his clash with the US central bank.

In a message posted on Truth Social, Trump shared a letter addressed to Cook notifying her of her dismissal from the Fed's board of governors with immediate effect.

He argued there was "sufficient reason" to believe she had provided false information on mortgage documents and invoked constitutional powers he claimed gave him the authority to act.

Cook rejected the move, insisting Trump cannot fire her, reports BBC.

"President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so," she said in a...