US President Donald Trump says he has ousted a member of the Federal Reserve's Board of Governors for alleged mortgage fraud.



Trump posted a letter to Governor Lisa Cook on his social media on Monday, saying she is removed from her post and that it's effective immediately.



The letter claims she may have made false statements on one or more mortgage agreements. It says it's sufficient cause for her dismissal.



The president had urged Cook to resign last Wednesday. But she stated she had no intention of stepping down.
Cook was nominated by Trump's predecessor, Joe Biden. She was to serve on the board until 2038.



Trump has repeatedly urged Fed Chair Jerome Powell to lower interest rates.



US media outlet Bloomberg has reported that Cook's removal could mean Trump-friendly policymakers forming a majority in the Fed's seven-governor board.



Concerns about the Fed's independence are likely to grow further.
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Quiz 1:
Who was removed from her post as a member of the Federal Reserve's Board of Governors?
A. Jerome Powell
B. Lisa Cook
C. Joe Biden
D. Donald Trump

Answers: Quiz 1: B

Quiz 2:
In what year was Lisa Cook nominated to serve on the Federal Reserve's Board of Governors?
A. 2025
B. 2038
C. 2020
D. 2017

Answers: Quiz 2: B

Quiz 3:
Who urged Lisa Cook to resign from her position on the Federal Reserve's Board of Governors?
A. Donald Trump
B. Joe Biden
C. Jerome Powell
D. Congress

Answers: Quiz 3: A