Fed governor Cook to sue over Trump’s attempt to fire her from Fed. What's next.

President Donald Trump on Aug. 25 announced he was firing Federal Reserve governor Lisa Cook, an unprecedented move that brings the president one step closer to shaping the balance of the Fed's seven-member board in his favor.

In a letter shared on Truth Social, Trump claimed "sufficient cause" to remove Cook immediately, pointing to accusations that Cook made false statements on mortgage agreements.

Cook said Aug. 26 the president lacked authority to oust her from the board of the central bank. She plans to challenge the move in court, according to a statement from her attorney.

Full story at USA Today

By Bailey Schulz Rachel Barber Bart Jansen Medora Lee Joey Garrison Andrea Riquier