In a significant escalation of his conflict with the Federal Reserve, Trump has announced the firing of Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud. Cook, the first Black woman to serve on the Fed board, has publicly rejected the accusations and stated she will not resign. The move raises critical questions about the independence of the central bank and is expected to have immediate ramifications for the stock market, as futures for major indices have already fallen in response. Analysts express concern that this decision could invite economic turmoil, as it tests the limits of presidential power over the central bank. Trump’s actions have intensified scrutiny of the Fed and highlighted ongoing tensions between the administration and financial regulators.