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Donald Trump Orders Removal of US Federal Reserve Governor Lisa Cook

Donald Trump Orders Removal of US Federal Reserve Governor Lisa Cook
Saralnama

On 25 Aug 2025, US President Donald Trump ordered the removal of Federal Reserve Governor Lisa Cook. Trump accused Cook of making false statements about her mortgage and claimed he had the authority to remove her. Cook, appointed in 2022, said Trump has no legal right to fire her and will file a lawsuit against this decision. She refused to resign and said she will continue her work at the Federal Reserve. The move caused concern among investors about the independence of the US central bank. Trump wants lower interest rates and has pressured the Federal Reserve chair Jerome Powell as well. Cook is one of seven governors who help set US interest rates, which affect borrowing costs worldwide. The Federal Reserve has not yet commented on the removal. This event may lead to legal battles and affect financial markets globally. (Updated 27 Aug 2025, 00:27 IST; source: link)