In yet another alarming bid to consolidate power, President Donald Trump on Monday night announced the removal of Federal Reserve governor Lisa Cook from her post, effective immediately. Days before, Trump had accused Cook , the first Black woman to serve on the board of the Fed, of mortgage fraud and pressured her to resign; though Cook had not been charged with any wrongdoing, Trump then sent her an official termination letter that he posted to Truth Social. Cook has refused to step down, however. Here is what you need to know.

Who is Lisa Cook and what does she do?

Lisa Cook is one of the seven people on the board of governors of the Federal Reserve, the U.S. central banking system. Joe Biden appointed her for a 14-year term in 2022. As a member of the Fed, she helps set monetary

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