Trump announces major Federal Reserve firing: 'You are hereby removed'

President Donald Trump said he fired Lisa Cook, a Federal Reserve governor, amid allegations that she committed mortgage fraud before joining the Fed.

Trump took to his Truth Social platform Monday night to share his letter, which cited his Article II powers in the Constitution and the Federal Reserve Act of 1913 to inform Cook she was "hereby removed." Trump said the firing was "effective immediately."

Trump cited an Aug. 15 criminal referral from William Pulte, his handpicked head of the Federal Housing Finance Agency, to Attorney General Pam Bondi. The letter said there was "sufficient reason to believe you may have made false statements on one or more mortgage agreements."

Trump's administration has accused Cook of listing two properties as her primary residence to secure better loan terms. They said she signed one document indicating a Michigan property would be her primary residence for the next year, then two weeks later signed another document for a property in Georgia claiming the same.

"It is inconceivable that you were not aware of your first commitment when making the second," the letter said. "It is impossible that you intended to honor both."

Cook previously denied wrongdoing and said she had no intention of resigning.