Monday, October 6, 2025

Latest

Fed Governor Lisa Cook Says She Will “Not Resign” After Trump Moves To Fire Her

President Donald Trump moved to fire Federal Reserve Governor Lisa Cook on Monday, asserting “for cause” authority under US Code and saying the removal is effective immediately.

The White House letter says Trump acts under Article II and the Federal Reserve Act. It attaches a criminal referral dated Aug. 15 from Federal Housing Finance Agency Director Bill Pulte to Attorney General Pamela Bondi. The referral alleges Cook made false statements on mortgage documents, including signing one Michigan agreement promising to occupy a home as a primary residence for the next year and, two weeks later, signing a Georgia document making the same promise.

The letter frames the case as a trust and competence issue for a financial regulator. It says the conduct “exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness.”

Cook rejected the action and said she will stay on the board: “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,” she said via her attorney.

Section 242 of the US Code, which Trump is emanating supposed authority from, allows removal of a Federal Reserve governor “for cause,” but recent commentary stresses that presidents cannot summarily dismiss governors.

FTC Commissioner Alvaro Bedoya urged precision in coverage: “The President has not fired Lisa Cook. The President is trying to illegally fire her.” The White House letter states Cook is removed “effective immediately,” while Cook and several officials and observers contend the president lacks such authority absent lawful cause and due process.


Information for this story was found via the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Federal Reserve Maintains Interest Rates For Second Meeting In A Row

The Federal Reserve has opted to keep interest rates steady at a 22-year high of...

Wednesday, November 1, 2023, 02:23:34 PM

Elon Musk Sends His Starlink To Fix FAA After Trump’s Massive Layoffs

Elon Musk has offered his SpaceX Starlink satellite internet technology to the Federal Aviation Administration,...

Saturday, March 1, 2025, 07:38:00 AM

America First? US Signals $20B Line, Gov’t Debt Buyout For Argentina

The US signaled a large-scale rescue for Argentina, with Treasury Secretary Scott Bessent saying Washington...

Thursday, September 25, 2025, 10:54:00 AM

Elon Musk Condemns Trump’s ‘One Big Beautiful Bill’ as Fiscal Disaster

He called it a "disgusting abomination."...
Wednesday, June 4, 2025, 02:56:00 PM

Trump Threatens Jailing Political Opponents Following Felony Conviction

Former President Donald Trump suggested Tuesday that his political adversaries could face prosecution if he...

Wednesday, June 5, 2024, 02:10:00 PM