Federal Reserve governor Lisa Cook could file a suit over her firing as early as Wednesday in a case that could ultimately decide the limits of a president's control of the Fed. Why it matters: While it would likely take months to be fully resolved,

The Congressional Black Caucus had harsh words for President Donald Trump in a statement supporting Federal Reserve Governor Lisa Cook. Last week, the Spelman College grad came under fire from the president in a social media post alleging that Cook committed mortgage fraud.

Governor Lisa Cook is facing mortgage fraud allegations raised by Trump official Bill Pulte and vowed a legal challenge against President Trump's attempt to fire her.

Fed independence needs to be preserved in order to prevent the economy from slipping into a dreaded stagflation scenario, Komal Sri-Kumar said.

Senate and House Democrats call Trump's firing of Federal Reserve Governor Lisa Cook illegal and warn it puts American economy and savings at risk.

For weeks, Bill Pulte has been one of the loudest voices inside the Trump administration calling for Federal Reserve Chair Jerome Powell to resign.

Federal Reserve Gov. Lisa Cook's lawyer says she'll sue President Donald Trump's administration to try to prevent him from firing her.

President Donald Trump said he was firing Lisa Cook from her position on the Federal Reserve board, but it's unclear if he has the authority to do so.

The Fed’s board consists of seven governors, two of which were appointed during Trump’s first term. With Miran already nominated to fill the seat of Adriana Kugler following her resignation, a majority of the Board could be in favor of rate cuts, if Cook were also to be replaced.