No cause exists for me to be firedI will continue to carry out duties as Fed governorIt's a tricky little situation this one. Trump may not have the outright authority to fire her as he can only remove a Fed governor "for cause". Now, this is an unprecedented case given that no president has tried so hard to shake up independence at the central bank. So, it will go down to a legal challenge to see if there is such "cause" for Cook to be fired. At the moment, she is just facing up allegations on mortgage fraud and it is not legally found just yet.However, Trump's action here may serve to incapacitate Cook from her role at the Fed. I reckon it will also need the courts to determine whether or not she can stay in office while the litigation plays out. So, we'll have to see. This article was written by Justin Low at investinglive.com.