“I’ll fire her if she doesn’t resign,” Trump told reporters during a visit to a Washington museum focused on the White House.

Cook, the first black woman to serve on the Fed board, said she had “no intention of being bullied to step down” after Trump on Wednesday called for her resignation on the basis of allegations about mortgages she holds in Michigan and Georgia.

Cook on Wednesday said she took any questions about her financial history seriously as a member of the Federal Reserve and was gathering the accurate information to answer any legitimate questions.

Cook is among three Fed governors appointed by president Joe Biden whose terms extend beyond Trump’s time in office, complicating the president’s efforts to gain more control by appointing a majority of its seven-member board of governors.

Two of the Fed’s remaining six board members were appointed by Trump – governor Christopher Waller and vice-chair for supervision Michelle Bowman.

Trump has repeatedly criticised Fed chair Jerome Powell, whose term as chair ends in May 2026, first over his failure to reduce benchmark interest rates and more recently over cost overruns on a renovation of the Federal Reserve building.