Golden Finance reports that U.S. President Trump has signed a document relieving Cook of his position on the Federal Reserve Board, effective immediately. Trump stated in the document: "In accordance with Article II of the U.S. Constitution and the amended Federal Reserve Act of 1913, I hereby remove Cook from his position on the Board of Governors of the Federal Reserve System. Given Cook's dishonest behavior in financial matters and potential involvement in criminal conduct, I cannot have confidence in your integrity. At the very least, these actions reveal serious negligence in your financial dealings, raising doubts about your capability and credibility as a financial regulator."