Summary
President Trump removed Federal Reserve governor Lisa Cook from her position. The White House claims she was fired due to accusations of mortgage fraud, but Cook denies wrongdoing. Her term was initially set to last until 2038.
Key Facts
- President Trump fired Lisa Cook, a Federal Reserve governor.
- The White House cited legal reasons for her dismissal related to mortgage fraud accusations.
- Lisa Cook was the first Black woman to serve as a Fed governor.
- Her term was originally set to end in 2038.
- Bill Pulte of the Federal Housing Finance Agency accused Cook of falsifying bank documents.
- Cook denies the allegations and plans to provide evidence to refute them.
- Stephen Miran has been nominated to temporarily take her place.
- If Cook's removal stands, it would create a second vacancy in the Fed this month.
