Fed's Cook says Trump has no authority to fire her, will not resign
ReutersAug 26, 2025 3:07 AM
Aug 25 (Reuters) - Federal Reserve Governor Lisa Cook on Monday said President Donald Trump has no authority to fire her from the central bank, and she will not resign.
Cook's statement followed a letter sent to her by Trump earlier saying he was removing her from the Fed effective immediately.
"President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so," Cook said in a statement. "I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022."
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
What to Watch in Nvidia’s Q2 FY2026 Earnings: AI Growth, Margins, and Market Impact
TradingKey - NVIDIA Corporation (NASDAQ: NVDA) will report its Q2 FY2026 earnings on Wednesday, August 27, 2025, after the U.S. market closes. The earnings call is scheduled for 5:00 p.m. Eastern Time. With Nvidia being a bellwether in AI, gaming, and data center markets, and carrying significant...TradingKey
15 hours ago
Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed ChairTradingKey
Mon, Aug 18
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...TradingKey
Mon, Aug 18
Apple Q3 FY2025 Earnings Review: Strong iPhone Performance and AI Momentum Amid Tariff Challenges
TradingKey - Apple Inc. (NASDAQ: AAPL) released its Q3 FY2025 earnings on July 31, 2025, after market close, delivering results that surpassed expectations, driven by robust iPhone sales and strong Services growth. Despite a slight dip in initial after-hours trading, Apple’s stock rose 2%...TradingKey
Fri, Aug 1
Ethereum Price Prediction: Will ETH Extend the Rally? What’s the Future Trend?
Ethereum's impressive 2025 rally has been largely fueled by inflows from spot ETFs and a surge in institutional holdings, signaling growing confidence in its role as a core asset in the crypto market. However, to officially confirm the start of a new bull cycle, ETH must break above the critical $4,TradingKey
Wed, Jul 23
