Trump Fires Federal Reserve Governor Lisa Cook

WASHINGTON—President Donald Trump on Aug. 25 published a letter saying that he has fired Lisa Cook, a member of the Federal Reserve Board of Governors, from her position. Members of the board, who are appointed by the U.S. president with the advice and consent of the Senate, serve 14-year terms, and normally cannot be removed except “for cause.” In his letter to Cook, posted on Truth Social, Trump said that there was cause to remove Cook because of a criminal referral related to alleged false statements on mortgage documents. “In light of your deceitful and potentially criminal conduct in a financial matter, [the American people] cannot and I do not have such confidence in your integrity,” wrote Trump in the letter....