UPDATE: Governor Cook has issued a statement.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
The first “removal” (if this stands) of a Federal Reserve Board Governor in the institution’s 112 year history. Totally unprecedented. No due process. A totally authoritarian move.