President Trump says he is firing a governor of the US central bank, a move seen as intensifying his bid for control over the setting of interest rates.

He posted a letter on his Truth Social platform on Monday night declaring that Lisa Cook - the first black woman to be appointed a Federal Reserve governor - was to be removed from her post on alleged mortgage fraud grounds.

She has responded, insisting he has no authority over her job and vowed to continue in the role, threatening a legal battle that could potentially go all the way to the Supreme Court.

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The president 's threat is significant as he has consistently demanded th

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