Trump orders the federal reserve governor Lisa Cook Reserve

President Donald Trump has said he will immediately remove Federal Reserve employee Lisa Cook from her position, a major escalation in his battle against the Central Bank of the United States.

In a message made on his social media platform Truth Social, Trump published a letter addressed to Cook, in which he informed her of his decision to remove it from the bank of the bank’s managers with immediate effect.

He said there was a “reason” to believe that she had made incorrect statements about mortgage agreements and cited constitutional powers that he believed allow him to eliminate it.

In response, Cook said Trump had no authority to fire her and she would not resign.

“President Trump was supposed to fire me for the cause when there was no reason under the law and he had no authority to do so,” Cook says in a statement.

“I will not resign. I will continue to fulfill my duties to help the American economy, as I have been doing since 2022,” she added.

The Federal Reserve has not yet commented on the president’s message, which he did late on Monday.

Trump has been increasingly exerted on the Fed – especially his chairman Jerome Powell – in recent weeks he has seen as a reluctance of the Central Bank to lower interest rates. He repeatedly sailed the opportunity to dismiss Powell.

His decision to fire Cook, who is one of the seven members of the Fed’s Board of Directors and the first African American woman to play, is thought to be unprecedented in the 111-year history of the central bank.

It is also likely to raise legal issues, with experts suggesting that the White House will have to demonstrate – potentially in court – that there is enough reason to fire it.

According to Trump’s letter, Cook has signed a document witnessing that a property in Michigan will be her main residence for next year.

“Two weeks later, you have signed another property document in Georgia, stating that this will be your main residence for next year,” the president said.

“It is unthinkable that you were not aware of your first commitment when you do the second,” he writes.

The president had called for his resignation last week on the claim of mortgage fraud, which was first made in a public letter from the residential financing regulator, was a pulte, a Trump ally, of Prosecutor Pam Bondi.

The residential financing regulator called the letter “Criminal Target” and called on the Ministry of Justice to investigate. It is unclear whether an investigation has been opened.

Cook told BBC in a statement last week That she learned of media allegations and the question stems from a mortgage loan application, which she made four years ago before joining the Central Bank.

“I do not intend to be harassed to withdraw from my position because of some questions raised in tweet,” she said.

“I intend to take questions seriously about my financial history as a member of the Federal Reserve, so I collect the right information to answer any legitimate questions and to provide the facts.”

If Cook or Fed opposes Trump’s decision to expel it, experts suggest that this may cause opposition between the central bank and the White House. Fed gained independence from the US government in 1951.

Trump expressed a growing dislike of Powell, calling him “Numbskull” and “stubborn debit” as he does not support the president’s calls for fast, great cuts to the rate of borrowing.

But last week, Powell increased expectations that the interest rate would be reduced In September. Speaking to the central bankers gathered in Jackson Hole, Wyoming, he also claims that the inflation effect of Trump’s tariffs may be temporarily.

The US dollar is weakening against the major global currencies in the Asia trade on Tuesday, as investors are relying that replacing Cook is likely to insist on a greater reduction in interest rates.