Why has Trump fired Federal Reserve’s Lisa Cook? Is the ousting allowed by law?

Why has Trump fired Federal Reserve’s Lisa Cook? Is the ousting allowed by law?

In an unprecedented move, US President Donald Trump has immediately removed Federal Reserve official Lisa Cook from her position, citing allegations of mortgage fraud. The ouster raises legal questions — can the American president actually fire an official of the US central bank?

President Trump has moved to fire Federal Reserve governor Lisa Cook, in an escalation of Trump’s campaign to assert more control over the central bank. File image/Reuters