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.

Federal Reserve governor Lisa Cook late Wednesday said she wouldn't leave her post after Trump on social media called on her to resign over an accusation from one his officials that she committed mortgage fraud.