Trump announces dismissal of Fed Governor Cook

US President Trump announced the immediate removal of Federal Reserve Board Governor Lisa D. Cook, pursuant to Article II of the US Constitution and the Federal Reserve Act of 1913. The removal was based on allegations of false information in mortgage agreements. According to a criminal referral report filed by the Federal Housing Finance Agency on August 15, Cook's declarations of primary residence in Michigan and Georgia, respectively, in separate documents, were considered fraudulent and potentially criminal. This incident raises questions about Cook's integrity and competence as a financial regulator.