The US president fired Lisa Cook over mortgage fraud allegations – a move experts view as a means to exert more control

• Trump says he is firing Lisa Cook over mortgage fraud claims

Donald Trump fired Lisa Cook, a Federal Reserve governor, late on Monday, in a move viewed as a sharp escalation in his battle to exert greater control over the independent institution.

Trump said in a letter posted on his Truth Social platform that he is firing Cook because of allegations she committed mortgage fraud. The allegation was made last week by Bill Pulte, a Trump appointee to the Federal Housing Administration, an agency that regulates mortgage giants Fannie Mae and Freddie Mac.