President Donald Trump on Monday said he has fired Federal Reserve Governor Lisa Cook, according to a letter addressed to her posted on his social media — the first instance of a president firing a central bank governor in the central bank’s 111-year history.

Federal Reserve Governor Lisa Cook addressed President Donald Trump's announcement that he had fired her, saying she would not resign from the Fed's seven-member board. Trump on Monday cited alleged mortgage-related misconduct when he said he had fired Cook, who has denied the allegations.

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.