President Donald Trump has fired Federal Reserve Governor Lisa Cook, a sharp escalation in his battle to exert greater control over what has long been considered an institution independent from day-to-day politics.

By Michael S. Derby and Howard Schneider NEW YORK/WASHINGTON (Reuters) -U.S. President Donald Trump on Monday said he was firing Federal Reserve Governor Lisa Cook over alleged improprieties in obtaining mortgage loans,

I have determined that there is sufficient cause to remove you from your position,” Mr. Trump said in a letter. Her dismissal threatened to touch off a landmark legal battle over the Fed’s independence.