Washington, August 26, 2025 (WAL) – US President Donald Trump announced he would immediately fire Lisa Cook, an official at the Federal Reserve, escalating his battle against the US central bank. In response, Cook stated in a declaration, ‘I will not resign; Trump does not have the authority to fire me, and his claim of dismissing me “for cause” is without legal basis and he lacks the power to do so.’ Commentators described Trump’s decision, posted on his platform ‘Truth,’ as an unprecedented move by a president to remove a member of the Federal Reserve leadership. This comes amid increasing pressure from Trump on the Federal Reserve—especially its chairman Jerome Powell—over what he sees as reluctance to cut interest rates. Lisa Cook is one of seven members of the Federal Reserve Board of Governors and part of the 12-member committee responsible for setting interest rates in the United States.