Can Trump fire Fed Governor Lisa Cook and why does he want to?

The legal case over Trump's move could have lasting implications for the central bank's independence.

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President Trump has demanded the removal of Cook, a move that escalates his long-running feud with the institution.

Late on Monday, he posted on his Truth Social account a letter addressed to Lisa Cook, saying she was being removed from the Federal Reserve Board of Governors due to mortgage fraud allegations.

Cook filed a lawsuit to challenge the move, asking the court to declare Trump's firing order "unlawful and void". The potential legal battle has significant implications for the US central bank's autonomy.

There has been an outcry from Democrats, who say it amounts to unprecedented political interference by Trump.