Billionaire hedge fund manager Bill Ackman said that Lisa Cook, a Federal Reserve governor under scrutiny, should either directly address allegations of mortgage fraud or resign, warning that the integrity of the central bank requires swift clarity.

Ackman’s remarks came as the standoff between Cook and the Trump administration escalated into the courts, with Cook filing a lawsuit Thursday morning to block her removal, arguing that President Donald Trump unlawfully fired her.

The suit asks a judge to declare that Cook remains a sitting member of the Federal Reserve Board, setting the stage for a legal clash with major implications for central bank independence and presidential authority. 

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