Trump Dismisses Federal Reserve Governor Amidst Controversy

US President Donald Trump has dismissed Federal Reserve Governor Lisa Cook, accelerating his push for political influence over the historically independent institution. Trump cited allegations of mortgage fraud as the reason, following accusations by Bill Pulte, his appointee to a mortgage regulatory agency.

In a surprising move, US President Donald Trump has removed Federal Reserve Governor Lisa Cook from her position. This decision comes amidst Trump's attempt to assert more control over the traditionally independent Federal Reserve.

Trump's action was made public through a letter on his Truth Social platform. He justified the dismissal with allegations of mortgage fraud against Cook.

The allegations were initially raised by Bill Pulte, Trump's appointee to the agency overseeing mortgage entities Fannie Mae and Freddie Mac, intensifying the political tensions surrounding the Federal Reserve.

(With inputs from agencies.)