Lisa Cook, a member of the Federal Reserve Board, stated that US President Donald Trump does not have the authority to dismiss her from her position and that she will not resign. This statement came after Trump announced her immediate dismissal, citing suspicions of fraud in a mortgage case. Cook emphasized there is no legal basis for her removal and pledged to continue supporting the US economy as she has since 2022. Trump’s move increases pressure on the independent central bank amid his repeated calls for interest rate cuts to revive the economy. Cook is the first Black woman appointed to the Federal Reserve Board, holding a PhD in economics and a strong academic and policy background. The decision has raised concerns about the Federal Reserve’s independence and its implications for the US economy.