U.S. President Trump Removes Federal Reserve Governor Cook from Office Effective Immediately

On August 25 local time, U.S. President Trump stated on social media that he had signed a document to remove Federal Reserve Governor Cook from her position, effective immediately.

According to earlier reports by Xinhua News Agency, U.S. President Trump stated on August 22 that if Federal Reserve Governor Lisa Cook did not resign, "I will fire her."

On the 20th, Bill Pult, Director of the Federal Housing Finance Agency, publicly accused Cook of simultaneously declaring two properties as her "primary residence" to obtain more favorable loan rates and submitted a criminal referral to the Department of Justice. Later that day, Trump shared related reports on social media, stating that "Cook must resign." On the same day, Cook issued a statement saying she would not "be bullied into resigning because of a post raising some questions." On the 21st, the U.S. Department of Justice announced it would investigate Cook.