President Donald Trump said late on Monday that he has fired Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud that haven’t been taken to court. There’s still a lot we don’t know about the situation.

Cook, the first Black woman to serve on the Federal Reserve Board, responded by saying she has done nothing wrong and Trump cannot fire her.

Trump said that Cook's removal was "for cause," pointing to Pulte's referral in his termination letter to Cook.