Trump Says Fed’s Lisa Cook Is Out ‘Effective Immediately’

President Donald Trump said he has removed Federal Reserve Governor Lisa Cook from her position, intensifying his aggressive stance toward the central bank.

“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 he posted Monday evening on Truth Social. The president had previously called on Cook, whose term is set to end in 2028, to resign.

Trump in the letter repeated allegations of mortgage fraud against Cook that had been leveled earlier this month by his administration. The Federal Reserve did not provide a statement in response to emailed questions from Investopedia in time for publication; Cook had previously said she had “no intention of being bullied to step down from my position” and said she was gathering information to respond to those claims.

Trump has been critical of the Fed, which last month voted to keep interest rates steady amid his calls for cuts. Minutes of that meeting indicated that Fed officials were wary that Trump’s tariff policies could stoke inflation. Fed Chair Jerome Powell, also a target of criticism from Trump, last week said a September rate cut was on the table as officials considered the possibility of a weakening job market.

The president earlier this month filled a vacancy at the Fed, appointing Stephen Miran, chair of the White House Council of Economic Advisers, to serve out the remainder of Fed Governor Adriana Kugler’s term after Kugler announced her resignation. Miran still requires confirmation by the Senate.

Cook, previously a professor of economics and international relations at Michigan State University, took office in 2022. She was reappointed the following year.