Fed Reserve Governor Lisa Cook Says She's Not Going Anywhere, Trump Has 'No Authority' to Fire Her

It seems like mortgage fraud by government officials is all the rage these days, as Sen. Adam Schiff (D-CA), New York Attorney General Letitia James, and Federal Reserve Board of Governors member Lisa Cook all stand accused of gaming the system by claiming more than one “primary” address in an effort to get more favorable terms.

As RedState’s Bonchie reported, President Trump fired Cook for "cause" Monday in light of her recent criminal referral. The DOJ claims that in 2021, Cook misrepresented two properties—one in Ann Arbor, Michigan, and another in Atlanta, Georgia—as her primary residence within weeks of each other. That’s a no-no.

Cook Is Cooked. Real Estate Fraud Gets a Federal Reserve Governor a Federal Investigation.

On Tuesday, however, Cook said she’s going to file suit and has no plans to walk away from the job:

Lisa Cook says she’s not leaving Fed Reserve, says Trump has ‘no authority’ to fire her | Washington Examiner

Beleaguered Federal Reserve governor Lisa Cook said she is not leaving her position, despite President Donald Trump’s announcement that he was firing her on Monday.… pic.twitter.com/EKSF3M5uYf
— Owen Gregorian (@OwenGregorian) August 26, 2025

She remains defiant:

In a statement, Cook argued the president has “no authority” to remove her from her post.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” she said in a statement obtained by The Hill’s sister network NewsNation. “I will not resign.”
“I will continue to carry out my duties to help the American economy as I have been doing since 2022,” Cook added.

Trump had demanded her resignation before the firing. The Federal Reserve Act of 1913 says that a president can fire a member of the Federal Reserve Board—but only “for cause.” It’s unclear if the allegations against Cook would reach that standard. Given the rulings by our courts since Trump re-assumed office, we can expect more legal fireworks.

The president said that despite Cook’s protestations, she’s incapable of doing her job under the circumstances.

“I have determined that there is sufficient cause to remove you from your position,” Trump wrote in a letter to Cook, which was posted to Truth Social.
The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks,” he said. “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve.”
The president added, “In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”

🚨BREAKING: President Trump has FIRED Federal Reserve Governor Lisa Cook after she was referred to the DOJ for mortgage fraud by Bill Pulte, Director of the Federal Housing Finance Agency.

Cook was appointed by Joe Biden in 2022.

How many government officials are committing… pic.twitter.com/9NPOVXwUZe
— Charlie Kirk (@charliekirk11) August 26, 2025

How many government officials are committing mortgage fraud?

Cook has retained attorney Abbe Lowell, who formed his own firm in May and who represented Hunter Biden in his tax and gun-related cases. He's also representing Letitia James.

Let the lawfare begin.

Editor’s Note: Help us continue to report the truth about corrupt politicians like Letitia James, Adam Schiff, and Lisa Cook.

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