Washington, Aug. 26 -- U.S. President Donald Trump on Monday fired Federal Reserve Governor Lisa Cook over allegations that she committed mortgage fraud.
"Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately," Trump wrote in a letter to Cook, posted on his Truth Social platform Monday.
"The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks," Trump wrote in the letter. "The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and...