President Donald Trump on Monday mentioned he’s firing Federal Reserve Governor Lisa Cook, in accordance with a letter addressed to her posted on his social media — the first such occasion in the central bank’s 111-year historical past.
The transfer itself is unprecedented represents a major escalation of the president’s battle against the Fed, which he has blamed for taking too lengthy to decrease rates of interest.
Cook has just lately come below fireplace by Trump and members of his administration for allegedly committing mortgage fraud. The Justice Department has mentioned it plans to research these allegations first raised by Federal Housing Finance Director Bill Pulte.
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