US President Donald Trump has announced the immediate removal of Federal Reserve official governor Lisa Cook, from her position, citing “sufficient reason” to believe Cook made false statements on mortgage agreements.

Cook, one of seven members of the Federal board of governors, is the first African American woman to serve in the role.

The decision to remove her will likely raise legal questions, with experts suggesting the White House will need to demonstrate in court that it had sufficient reason to fire her.

The president’s conflict with Cook and Powell, whom Trump has suggested he wants to fire for not cutting interest rates fast enough, also raises questions about the Fed’s independence from politics.

Cook stated that Trump purported to fire her for cause, when no cause exists under the law, adding that he had no authority to do so.

European markets opened slightly down on today, while the US government’s bond rate increased.