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Trump fires Fed governor Lisa Cook, opening new front in fight for control over central bank

  • Chris Rugaber, The Associated Press

  • Canadian Press

  • August 25, 2025

FILE - Federal Reserve Board of Governors member Lisa Cook, right, talks with Federal Reserve Chairman Jerome Powell before an open meeting of the Board of Governors at the Federal Reserve, June 25, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)

WASHINGTON (AP) -- President Donald Trump fired Federal Reserve Governor Lisa Cook late Monday, a sharp escalation in his battle to exert greater control over what has long been considered an institution independent from day-to-day politics.

Trump said in a letter posted on his Truth Social platform that he is firing Cook because of allegations that she committed mortgage fraud. Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, made the accusations last week.