Federal Reserve Governor, Lisa Cook, announced that she will sue the Trump administration after the "illegal" firing attempt.

Lisa Cook, the Governor of the Federal Reserve, has been threatened with dismissal by Donald Trump, who cited alleged mortgage fraud accusations. In response, Cook's attorney, Abbe Lowell, stated on Tuesday that the president has 'no authority' to fire her. The Trump administration supported the move, citing a section of the U.S. code. If Cook takes legal action, the case could ultimately reach the Supreme Court.