Federal Reserve Governor Lisa Cook has responded to President Donald Trump's unprecedented action of removing her from the top post, by refusing to quit.
In a letter to Cook, posted on Truth Social Monday, Trump had said that she has been removed from her position on the Board of Governors, raising concerns over the Federal Reserve's independence. He said there is sufficient cause to remove her from the position alleging that she engaged in mortgage fraud related to the purchase of two properties.
For comments and feedback contact: editorial@rttnews.com
Political News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.