Lisa Cook, the embattled Federal Reserve governor, has stated that she will not resign despite President Donald Trump’s announcement on Monday that she would be fired.
Cook revealed the information in a statement late Monday night, hours after Trump announced his intention to fire Cook. Nevertheless, she refused to resign from her job, claiming that the president lacked the “authority” to remove her.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said in a statement. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
In a letter to Cook, Trump asserted that the Federal Reserve Act allows him to remove her at his discretion.
