Trump is challenging as the fed Governor Lisa Cook threatens legal action over his efforts to remove her from the council

President Trump said he was ready for a legal fight after Fed Governor Lisa Cook announced to sue plans for his attempt to remove her. Trump cited unproven allegations of mortgage fraud, while Cook refused to resign and said the president had no authority to fire her “because of matter”. Lisa Cook, a member of the Governors of the Federal Reserve, listens during an open meeting of the Council of Governors in the Federal Reserve, June 25, 2025 in Washington. (AP Photo/Mark Schiefelbein, file) (AP) Resident Donald Trump on Tuesday responded to questions about Federal Reserve -Governor Lisa Cook saying that they would submit a lawsuit that challenged his attempt to remove her. Trump asked at a cabinet meeting if he was prepared for a legitimate battle, Trump said, “Oh sure, always.” Cook’s lawyer, Abbe Lowell, issued a statement saying: “Trump has no authority to remove the Governor of Federal Reserve Lisa Cook. His attempt to fire her based on a reference letter does not have a factual or legal basis. We will submit a lawsuit that challenges this illegal action.” Trump announced on Monday night that he had removed Cook from the Fed board about unproven allegations of mortgage fraud. He said on Tuesday, “We need people who are 100% above the board, and it doesn’t look like she was.” Fed defends independence and processes the Federal Reserve has issued a statement confirming independence: “Lisa Cook has indicated by her personal lawyer that she will immediately challenge this action in court and obtain a judicial decision that will confirm her ability to continue her responsibilities as a Senate, confirming the member of the Governors of the Federal Reserve.” The central bank added: “Congress has ordered the Federal Reserve Act to serve governors in long, fixed conditions and can only be removed by the president,” the central bank said. “Long term and the protection of governors are an important protection and ensures that monetary policy decisions are based on data, economic analysis and the long -term interests of the US population.” Cook refuses to retire, said on Monday night: ‘President Trump set me’ to fire ‘when there is no reason under the law, and he has no authority to do so. I will not resign. ‘ Implications for the Fed board of director Trump, a Republican, previously forced Fed chairman Jerome Powell to lower interest rates. If his nominated Steven Miran replaces Governor Adriana Kugler and Trump, he manages to remove Cook, he would get a majority of 4-3 in the Fed’s board. Trump said on Tuesday, “We will have a majority soon.”