(NewsNation) — Federal Reserve Governor Lisa Cook has vowed not to resign and plans to sue the Trump administration over efforts to fire her from the central bank, her attorney said Tuesday.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said in a statement obtained by NewsNation on Tuesday.
“I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022,” she continued.
Trump announced Monday he was moving to fire Cook following allegations from Bill Pulte, a Trump ally and the head of the Federal Housing Finance Agency. Pulte has said Cook committed fraud by listing two primary residences.
“I have determined that there is sufficient cause to remove you from your position,” Trump wrote in a letter to Cook, which he posted to social media Monday.
Cook was appointed by former President Joe Biden and has retained prominent Washington, D.C., attorney Abbe Lowell to represent her.
“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” Lowell wrote in a statement to NewsNation partner The Hill. “His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action.”
NewsNation partner The Hill contributed to this report.