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ederal Reserve Governor Lisa Cook is pushing back against President Donald Trump's decision to fire her, citing a lack of factual or legal basis for the move. Cook intends to sue to retain her position and will continue carrying out her duties to help the American economy.

    Cook's termination was announced by Trump in a letter posted on social media on August 25, but she argues that no cause exists under law for her removal. Her attorney, Abbe Lowell, stated that Trump has no authority to remove Cook and that the decision lacks factual or legal basis. The lawsuit challenging the termination is expected to be filed soon.

    The conflict surrounding Cook began earlier this month when Federal Housing Finance Agency Director Bill Pulte suggested she may have committed mortgage fraud in connection with two homes in Michigan and Georgia. However, the allegations predate Cook's time at the Fed, which started in May 2022. Some legal experts have questioned whether Trump has met the threshold for firing a Fed governor "for cause," as Cook has not been charged or convicted.

    Trump's decision to fire Cook is part of a series of battles between him and members of the Federal Reserve this year. He previously called for Fed Chair Jerome Powell to resign over fraud allegations involving an ongoing renovation of the Fed's headquarters and has also pushed for lower interest rates. The situation has raised concerns about the central bank's independence, with some experts warning that Trump may use his power to influence monetary policy if he gains a majority at the Fed.