Federal Reserve Governor Lisa Cook issued a statement through her attorneys in response to President Trump’s attempt to remove her from the Board of Governors.

“President Trump claims to have fired me ‘for cause’ when no such cause exists under the law, and he lacks the authority to do so. I will not resign. I will continue fulfilling my responsibilities to support the American economy, as I have since 2022.”

Trump’s justification for Cook’s removal was a Justice Department investigation launched last week into alleged mortgage fraud, referred by Federal Housing Finance Agency Director Bill Pulte, who has also forwarded complaints targeting several of the president’s political opponents.