President Donald Trump’s campaign to oust Federal Reserve Governor Lisa Cook, if successful, would give him the opportunity to exert more influence over the US central bank by securing a majority on its seven-member board of governors.

President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign, citing an allegation of potential mortgage fraud. "Cook must resign, now!!!" Trump wrote on his social media platform.

A new report says the president might try to fire Cook, the first woman of color to sit on the Federal Reserve Board of Governors.