President Trump has fired Federal Reserve board member Lisa Cook, accusing her of making false statements on mortgage applications. Cook has vowed to sue to block her dismissal, calling it illegal and arguing that the president lacks the authority to remove her. Legal experts note that the allegations against Cook concern her private conduct and that she has not been convicted of a crime, suggesting she may have a strong case to remain in her position until her term ends in 2038. The move is seen by some as part of Trump's broader effort to reshape the central bank's leadership.