U.S. President Donald J. Trump posted a letter of termination tonight on Truth Social directed at Federal Reserve Governor Lisa Cook, citing her removal as tied to a Department of Justice investigation into alleged “mortgage fraud.” Trump’s Federal Housing Finance Agency Director, Bill Pulte, has also leveled similar accusations at other political rivals of the president, including New York Attorney General Letitia James and California Sen. Adam Schiff.
However, Trump does not have the authority to dismiss Federal Reserve Governors without established “just cause,” a limitation that has long fueled his frustration over being unable to oust Fed Chairman Jerome Powell. As Cook has not been convicted of any crime, the termination letter is unlikely to hold legal weight and will almost certainly be struck down by a federal court—or, if challenged, by the Supreme Court.