Federal Reserve governor digs in as Trump moves to fire her: 'I will not resign'

Federal Reserve governor Lisa Cook is refusing to resign despite President Donald Trump saying in a letter that she was "removed" from her position "effective immediately." The president posted the letter to Cook on Truth Social just five days after he demanded her resignation in a different post on the same platform.Trump cited his authority under the Constitution and the Federal Reserve Act of 1913 as justifications for his decision to remove Cook. The Federal Reserve Act establishes the president’s ability to remove governors from the board "for cause." The president said in his letter that