President Trump moves to oust Fed Governor Lisa Cook over alleged mortgage document falsification, sparking legal battle and concerns over central bank independence. Trump cites discrepancies in mortgage applications as reason for removal. Cook, first Black woman on Fed Board, vows to fight back and challenges president’s authority. Democrats slam move as illegal and attack on Fed. Trump considers replacing Cook with Stephen Miran, potentially influencing monetary policy. Lawsuit to be filed by Cook’s lawyer, seeking injunction to remain in post. If successful, Trump would secure majority on Fed board. Developing story, updates to come.

Read more at Quiver Quantitative: Trump Moves to Oust Fed Governor Lisa Cook, Legal Battle Looms Over Central Bank Independence