The president said in a letter posted on his Truth Social platform Monday night that he is removing Lisa Cook effective immediately.

WASHINGTON (AP) — President Donald Trump’s vow to fire Lisa Cook, an economist who is the first Black woman to serve on the Federal Reserve’s board of governors, kicked off another tense debate and likely legal battle over a major institution’s independence.

The attempt to fire Lisa Cook is problematic because it depends on manipulating a system whose confidences millions of Americans rely on.

The director of Federal Housing Finance Agency could win the president an opening on the Federal Reserve board.

Lowell, a former partner at the Winston & Strawn LLP law firm, started his own practice in May and it’s stacked with clients under fire by the Trump administration.