The move, which prompted losses for long-dated US Treasuries in Tuesday trading, could give Trump another chance to name someone to the Fed board as he repeatedly pressures officials to lower interest rates.
Donald Trump moved to oust Federal Reserve Governor Lisa Cook following allegations that she falsified mortgage documents, a dramatic escalation in the president’s battle for more control over the US central bank that unnerved investors.
In a letter posted on Truth Social late Monday, Trump said he had “sufficient cause” to fire Cook, the first Black woman to serve on the Fed Board of Governors in Washington, based on the allegations from a White House ally that she made false statements on one or more mortgage loans.
